STX Offshore & Shipbuilding Confirms Securing Drillship Order

STX Offshore & Shipbuilding has confirmed that it has made effective a turn-key construction contract of one BT-UDS dynamic-positioned Ultra Deep Water(UDW) drillship plus options for four additional units from Sigma Drilling Ltd. a company established by Skeie Technology AS in Norway.

The estimated value of the contract is USD 672 million, amounting up to 3.5 Billion dollars in total including 4 option units.

The drillship, with a Length x Breadth x Height of 230 x 38 x 18.4 meters, is capable for drilling wells down to 12,000ft in water depth with 40,000ft drilling depth.

The UDW drillship is one of the high-value added offshore units, with its value amounting from 500 to 600 million US dollars per unit. World’s most renowned shipyards including STX O&S are only capable of constructing it in a turn-key basis. It will feature two 15,000 psi BOP (Blow Out Preventer) stacks with options to upgrade to 20,000 psi BOP and relevant systems. If applied, the drillship would be one of the first 20,000 psi compliant drillship ever built in the world. BOP is core equipment which prevents explosion of high-pressured gas, water, oil out of wells during drilling operations.

The drillship will be built in STX Jinhae Yard and scheduled to be delivered in the second half of 2015. By constructing the UDW drillship in STX Jinhae Yard, STX O&S will continue to focus on expanding its business portfolio in offshore sector.
November 26, 2012