A Review of the Nigerian Energy Industry

Daewoo nets drillship double

Daewoo yard big16 October 2013 – Daewoo Shipbuilding & Marine Engineering (DSME) has scooped a $1.24 billion deal to build a pair of drillships for an unidentified African client.

The South Korean rig builder announced the order on Tuesday, adding that the vessels were expected to be delivered by the end of 2015.

DSME did not reveal the name of the contractor but industry sources have told Upstream that the client could be from Angola.

According to Korean newspaper Business Korea, the ship model to be built is the DSME e-Smart, which is capable of drilling up to 12 kilometres down in a maximum 3.6-kilometre deep sea.

“The price of the drillships, to be equipped with the best specifications in function and safety, amounts to around $620 million,” the publication quoted a DSME official as saying.

DSME also confirmed on Wednesday that it will construct a seventh ultra-deepwater drillship for US supermajor Transocean. This rig is estimated to cost $725 million to build.

The builder is close to surpassing its annual order target of $13 billion, having already received about $11.26 billion in orders so far this year.
*Danica Newnham, Upstreamonline

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