Aker Drilling confirms order of new Ultra Deepwater Drillships from DSME

Soon-to-be-listed Norwegian offshore drilling contractor Aker Drilling ASA said Monday that through its Aker Drilling Offshore Services Public Ltd. unit it has awarded a contract for construction of two ultra-deepwater drillships to Daewoo Shipbuilding & Marine Engineering Co. Ltd

The total project price per unit is estimated at $600M including project management, loose drilling equipment, spares, and operations preparations. In addition, the contract includes two fixed price options for further two drillships to be declared within Jun. and Oct. 2011, respectively.

The drillships will be the largest and most capable ultra-deepwater units in the market with a double derrick for efficient parallel operations, capable of operations in water depths down to 12,000 feet and with drilling depths of 40,000 feet. The vessels are scheduled to be delivered Oct. and Dec. 2013, respectively.

“This investment will be our next step in the development of Aker Drilling as a leading contractor in the ultra-deepwater and harsh environment markets,” says Geir Sjoeberg, Chief Executive of Aker Drilling.

-By Dominic Chopping, Dow Jones Newswires