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September 07, 2008


Samsung bags USD 2.4 billion order for three rigs

It is reported that South Korea's Samsung Heavy Industries secured three separate deals worth USD 2.41 billion for new build deepwater rigs.

Samsung Heavy Industries in a statement said that the first deal valued at USD 1.15 billion is for two new build semi submersible rigs to be delivered to an unidentified Russian client. The contract will cover the construction of the topsides for the two rigs each valued at USD 550 million, with deliveries scheduled for second quarter and third quarter of 2010. Once complete, the semi submersibles will be capable of operating in up to 350 meters of water.

It added that the other two deals are repeat orders for new build drill ships worth around USD 630 million to be delivered by May 2011. Singapore-based Tanker Pacific has contracted Samsung to build a drill ship to be delivered to an African client. The second drill ship is for an undisclosed North American client. Both rigs will be capable of drilling up to 30,000 feet in 10,000 feet of water.