Shell Contracts Transocean for Four Ultra-Deep-Water Rigs
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  • Shell awarded Transocean 10-year contracts for four newbuild dynamically positioned ultra-deep-water drillships. HighlightsThe contracts are valued at $7.6 billion against an aggregate capital investment of $3 billion, excluding capitalized interest.Shipyard delivery for the first rig is scheduled for mid-2015, with the...

    • September 29, 2012
    Contracts,Headlines
    • September 29, 2012
    Contracts,Headlines

    Shell awarded Transocean 10-year contracts for four newbuild dynamically positioned ultra-deep-water drillships. 

    Highlights

    • The contracts are valued at $7.6 billion against an aggregate capital investment of $3 billion, excluding capitalized interest.
    • Shipyard delivery for the first rig is scheduled for mid-2015, with the remaining three drillships expected to be delivered at six-month intervals thereafter. 
    • The contracts are to commence in 2015 and 2016.
    About the Drillships:
    The seventh-generation rigs are to be constructed at the Daewoo shipyard in South Korea starting Q4-2013. The rigs are designed for water depths of up to 12,000 ft and to drill wells to 40,000 ft. Each rig is to be outfitted with two 15,000 psi blowout preventers (BOPs) with future upgrade capability of 20,000 psi BOP. The rigs comply with anticipated Tier III International Maritime Organization emissions standards.