Total hires Ensco DS-8 drillship for operations in Angola
- Business & Finance
Ensco, a UK-based drilling contractor, this week announced it has secured a lucrative deal for one of its drillships under construction.
The contract comes from the French oil and gas giant Total and is for the Ensco DS-8 drillship, currently being build in South Korea at the Samsung Heavy Industry shipyard.
The ENSCO DS-8, an ultra-deepwater drillship, is the fourth Ensco drillship contracted by Total.
The contract adds approximately $1.2 billion to Ensco’s revenue backlog and is the vessel expected to start operations in Angola in third quarter 2015 upon completion of mobilization and acceptance testing.
The drillship is contracted to Total in Angola from the third quarter of 2015 to the third quarter of 2020, at day rates around high-$610Ks. The day rate may rise to mid-$650 Ks average rate over drilling program.
Ensco ordered the drillship in April 2013. Including commissioning, systems integration testing, project management and spares, the construction cost is expected to reach $645 million.
The ENSCO DS-8will have advanced capabilities to meet the demands of ultra-deepwater drilling in water depths of up to 12,000 feet and a total vertical drilling depth of 40,000 feet. The features on ENSCO DS-8 include retractable thrusters, enhanced safety and environmental features, improved dynamic positioning capabilities and advanced drilling and completion functionality including below-main-deck riser storage, triple fluid systems, offline conditioning capability and enhanced client and third-party facilities.
The drillship is based on the proprietary Samsung GF12000 hull design measuring 755 feet in length and 125 feet in width. It will offer a payload in excess of 22,000 metric tons and a 1,250-ton hoisting system.