Seadrill has entered into an agreement for the construction of two high specification jack-up drilling rigs with Dalian Shipbuilding Industry Offshore Inc. (DSIC Offshore) in China. The new units are scheduled for delivery during the first and second quarter 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, with tail-heavy payment terms.

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

Tags: Seadrill