Frigstad Offshore has placed turnkey construction contracts for two ultra-deepwater semisubmersible drilling rigs with the Chinese yard CIMC Raffles, with options for another four.
The price tag of the first pair is $1.3billion; which means the total order value could hit $5billion if all six rigs are built.
The 7th generation drilling units are of the Frigstad D90 design, developed by Frigstad Engineering.
They will be capable of operating in water depths to 3,657m (12,000ft) and of drilling to a total depth of 15,240m (50,000ft).
They will be outfitted with DP3 dynamic positioning systems, full dual activity hydraulic drilling packages with 2×1,400 short tonnes hoisting capacity, and 2×7 ram BOPs.
Standard design features of the D90 include vertical storage of 3,109m (10,200ft) of drilling riser in 30.5m (100ft) stands and up to 15,240m of drill pipe in 28.3m (93ft) stands; plus a variable deck load capacity in excess of 8,100 tonnes.
The initial pair is due for delivery at the end of Q4 2015 and Q2 2016 respectively.
Construction, marketing, and operation of the rigs will be managed by Frigstad Offshore.
Simen Skaare Eriksen, CEO at Frigstad Offshore and director of the Frigstad Deepwater subsidiaries placing the orders, said,
“After the CIMC Group’s takeover of the Yantai Raffles yard, we have seen considerable improvements to infrastructure and execution skills at the yard, which provides us with confidence in their ability to deliver a successful project.
“With these orders, we continue building a solid foundation for further growth and developing the company into a leading operator of ultra-deepwater drilling units at the very top end of this highly attractive market segment.
“These rigs represent yet another significant step forward in terms of equipment specifications, operational efficiency, flexibility, and reliability, and we will be well positioned to take advantage of a strengthening ultra-deepwater market.”
The first D90 class rig, Scarabeo 9, was built for Saipem of Italy at the Raffles yard and recently drilled offshore Cuba, albeit unsuccessfully.
Meantime, OMV New Zealand has chartered the Frigstad-operated but Chinese-owned semi-submersible Kan Tan IV for a 90-day drilling programme offshore New Zealand.
The charter provides for the possibility of additional drilling in the programme.
The enhanced Pacesetter class rig will be employed primarily for drilling the Matuku prospect offshore New Zealand. The potential prize is reckoned to be up to 65million barrels of oil.
The Kan Tan IV was built in 1983, is owned by Sinopec and has been operated by Frigstad Offshore since mid 2011, when it took over management from Maersk Drilling.