SDRL - Seadrill orders two jack-ups for delivery in 2015
Hamilton, Bermuda, January 31, 2013 - 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.
John Fredriksen, Chairman and President of Seadrill Limited, says in a comment,
"These newbuilds position us for additional growth in a strengthening jack-up
market, providing further earnings upside for Seadrill. The premium jack-up
market continues to demonstrate strength as evidenced byÂ increasing dayrates and
utilizations.Â Customers continue show preference for newer units from drilling
contractors with proven track records of safe and efficient
operations.Â Currently 312 jack-ups or 65% of the total fleet of 483 jack-ups are
older than 25 years. These two new firm orders increases our fleet of modern
jack-ups to 25 rigs with an average age of 3 years, and further strengthens our
position as the leading operator of premium modern, high-quality drilling units.
Chief Executive Officer
Seadrill Management Ltd
+44 20 7284 5530
Rune Magnus LundetrÃ¦
Chief Financial Officer
Seadrill Management Ltd
+47 51 30 91 26
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Source: Seadrill Limited via Thomson Reuters ONE