Houston-based Firm Revealed In DSME Ultra-Deepwater Drillship Order

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October 18, 2011

Houston-based drilling contractor Atwood Oceanics revealed Tuesday that one of its subsidiaries is the mystery buyer in an ultra-deepwater drillship construction contract announced Monday by Daewoo Shipbuilding and Marine Engineering.  The US$600 million drillship, to be named Atwood Achiever, will be built at DSME’s yard in South Korea and is expected to be delivered by June 30, 2014.

The Atwood Achiever is the second ultra-deepwater drillship ordered by Atwood Oceanics and will be identical to the previously ordered Atwood Advantage.  The Atwood Achiever will be a DP-3 dynamically-positioned, dual derrick ultra-deepwater drillship rated to operate in water depths of up to 12,000 feet and drill to a depth of 40,000 feet.  It will also come equipped with enhanced technical capabilities, including a 7-ram blowout preventer, three 100 ton knuckle boom cranes, a 165 ton active heave “tree-running” knuckle boom crane, and 200 person accommodations.

This order marks the execution of the first of two options that Atwood Oceanics retained on its contract with DSME. The remaining option requires commitment by July 31, 2012.

DSME said yesterday that the drillship order from an “unnamed North American company” helped the South Korean shipbuilder exceed its annual order target of US$11 billion by 9%.

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