In a move designed to capitalise on high demand for ultra-specification harsh environment rigs, North Atlantic Drilling has entered into a turnkey construction contract with Jurong Shipyard for the construction of a new harsh environment semisubmersible drilling rig.
The new super-rig will be of a Moss CS60 design, N-Class compliant and be fully winterised to meet the difficult weather and sea conditions that characterise the North Atlantic.
The rig will be capable of working in water depths to 3,000m (10,000ft) with a maximum drilling depth of 12,000m (40,000ft).
It will be outfitted with both DP3 dynamic positioning systems and complete anchor handling capabilities.
It will have accommodation for up to 150 people in Norway, whereas internationally the capacity will be 180.
In order to meet the highest current safety and operational standards, the rig will be outfitted with a six-ram blowout preventer (BOP) stack and have the capacity for storing and handling of a second BOP.
The unit is scheduled for delivery by Q1 2015 and the total price will be around $650million.
Alf Thorkildsen, North Atlantic Management CEO and chairman at North Atlantic Drilling, said: “North Atlantic Drilling was established in February last year with a clear ambition of building the leading harsh environment offshore drilling company.
“Since this incorporation, the underlying market for drilling services in such areas has shown a tremendous development creating opportunities for further growth.
“With this new-build order, we are able to continue developing our growth strategy and utilise a unique opportunity to generate solid returns for our shareholders. We believe the market for modern advanced rigs will continue to develop favourably and offer attractive contracting opportunities.”
North Atlantic Drilling is 74% owned by Seadrill of which Thorkildsen is both CEO and president.
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