Vantage Drilling has announced that it has entered into an agreement with Daewoo Shipbuilding and Marine Engineering Co., Ltd to construct an ultra-deepwater drillship. Vantage said it plans to name the drillship Tungsten Explorer.
The agreement is a fixed price turnkey contract for the construction of the drillship with a scheduled delivery date of May 31, 2013. The cost of the Tungsten Explorer, including all project management, commissioning, spares, pre-delivery crew costs and inventory is estimated to be approximately $580 to $590 million. Vantage has also obtained a fixed price option for the purchase of an additional drillship.
Tungsten Explorer will be constructed at DSME’s shipyard in Okpo, Korea, and will be capable of operating in water depths up to 12,000 feet, with a total vertical drilling depth capacity of 40,000 feet. The hull design has a variable deck load of 20,000 tons and measures 781 feet long by 137 feet wide. The drillship will be equipped with the most technically advanced features in the drilling industry including DP3 dynamic positioning system, 1250 short ton hook load drilling package, a 9000 hp drawworks, as well as offline pipe handling and trip saver system. The drillship will have accommodations for 200 personnel.
Paul Bragg, the Company’s Chairman and CEO, commented, “The addition of Tungsten Explorer to our fleet is an exciting development. While this will be our second Company-owned unit to be constructed at DSME, it will be our fifth drillship project undertaken there, inclusive of our three ongoing construction oversight projects. Our strong relationship with the DSME management has allowed us to achieve exceptional project terms — a) one of the lowest cost construction contracts of this kind, (b) one of the earliest deliveries of the recent order cycle — just 24 months away, and (c) one of the highest specification ultra-deepwater units yet to be built.
Vantage Drilling, a Cayman Islands exempted company, is an offshore drilling contractor, with an owned fleet of four Baker Marine Pacific Class 375 ultra-premium jackup drilling rigs and one ultra-deepwater drillship, the Platinum Explorer.
Equinor has announced a landmark project labor agreement (PLA) with the Building & Construction Trades Council of Greater New York and Vicinity (BCTC) for the construction of the South Brooklyn...
March 22 (Reuters) – The Biden administration on Friday released new rules that will make it easier for offshore wind developers to claim a subsidy for facilities planned in areas that have historically relied...
By Lars Paulsson (Bloomberg) — On the outskirts of Rotterdam, a bright orange ship is hoisted above the muddy Rhine with the help of six chunky triangular legs. The vessel has just been retrofit with a huge...
March 20, 2024
Total Views: 2879
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.