Diamond Offshore orders new ultra-deepwater drillship

Diamond Offshore today announced that a subsidiary, Diamond Offshore Drilling Ltd, and Hyundai Heavy Industries Co., Ltd have signed a contract for construction of a new ultra-deepwater drillship. Delivery is planned for the second quarter of 2013. Total cost, including commissioning, spares and project management, is expected to be about $590 million. Diamond Offshore has also obtained from Hyundai a fixed-price option for the purchase of a second drillship at any time before the end of the first quarter of 2011.

Designed for operations in up to 12,000 ft of water, the dynamically-positioned drillship will be equipped with a seven-ram blowout preventer, dual-activity capability, five mud pumps and a maximum hook-load capacity of 1,250 tons.

Larry Dickerson, Diamond Offshore president and CEO, said: “The addition of a new drillship to our fleet is part of a continuing effort to enhance our ultra-deepwater capabilities at attractive capital costs. Including our opportunistic acquisitions of the Ocean Courage and Ocean Valor in 2009, we have now purchased, ordered or upgraded six 10,000-ft ultra-deepwater units over the last four years.”