Seadrill orders two jackups for 2015 delivery

Seadrill has entered into an agreement for the construction of two high-specification jackup drilling rigs with Dalian Shipbuilding Industry Offshore Inc in China. The units are scheduled for delivery during Q1 and Q2 2015, and the estimated total project price is approximately US $230 million, including project management, capitalized interest, drilling and handling tools, spares and operation preparations, per rig.

The two new units will be based on the F&G JU2000E design, with water depth capacity of 400 ft and drilling depth of 30,000 ft. Seadrill has received fixed price option agreements to construct an additional two units at Dalian, with delivery in Q3 and Q4 2015. The new jackups are of the same design as the four jackups currently under construction by Seadrill at Dalian and Jurong, Singapore.

“The premium jackup market continues to demonstrate strength, as evidenced by increasing dayrates and utilizations. Currently 312 jackups, or 65% of the total fleet of 483 jackups, are older than 25 years. These two new firm orders increases our fleet of modern jackups to 25 rigs with an average age of three years,” John Fredriksen, chairman and president of Seadrill, said.