Seadrill makes US$ 1.2 billion drillship order

The Norwegian giant Seadrill has placed an order with Samsung Heavy Industries for two new ultra deepwater drillships worth US$ 1.2 billion.

The drillships are expected to be delivered by 2014. There is also the possibility for a third drillship, which if ordered would also be available by 2014.

The company cited the need for increased deepwater drilling capacity and high oil prices as the reasons behind the deal. In a statement, the company said “It is highly likely that lack of sufficient rig availability in the deepwater market will become a key bottleneck until significant new drilling capacity is added.

The company’s chairman, John Fredriksen said “The recent increase in daily rates for drilling rigs will generate excess cash that can be used for a balanced combination of organic growth and a strong long-term dividend distribution.”

Read the article online at: https://www.oilfieldtechnology.com/exploration/27022012/seadrill_places_drillship_order_with_shi/