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GustoMSC Introduces Its Largest Magellan-Class Drillship

GustoMSC presented the Magellan-class drillship, the next step in deep-water drillship design.

Named after Ferdinand Magellan who was the first sea explorer to circumnavigate the earth, GustoMSC developed the Magellan-class drillship in the explorer’s own tradition of endurance, perseverance and determination. The Magellan is outperforming the current generation fleet with respect to redundancy, autonomy, safety and load carrying capacity.

Advanced new drilling techniques and developments in drilling equipment, together with the growing interest in units that could drill in deeper water and have more operational flexibility and capability, prompted thinking about a new class of drilling vessel. “The design is the result of a specific focus on operators’ requirements. We also received feedback on our existing products and, of course, learn from the industry in general. After the Macondo incident in 2010, for example, there were many recommendations concerning operational procedures and rig design – with an emphasis on safety. We naturally wanted to incorporate that information into the new design,” says Sjoerd Hendriks, Design Manager of the Magellan project.

The Magellan is the largest drillship that GustoMSC has designed to date. The design backbone of the ship consists of the well-established and field-proven principles of its predecessors. The most important step forward is that the Magellan design is equipped for 20,000 psi well-control systems, including the associated increases in capacity, such as high hook loads and setback capacities. Magellan’s ability to accommodate higher pressure, high variable loads, mud volumes and setback capacities and incorporate any type of advanced drilling techniques – such as managed pressure drilling and dual gradient systems, means it is equipped to drill well beyond the current market limit of 12,000 feet.

Press Release, June 16, 2014

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South Korea: Rowan Companies Inc, Announces Option to Build GustoMSC Drillship

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Rowan Companies Inc, announced today that it has exercised its option to build a third GustoMSC P10000 design ultra-deepwater drillship with Hyundai Heavy Industries Co., Ltd. (“HHI”) with delivery scheduled for the fourth quarter of 2014.

The cost for this rig, including commissioning, project management and spares, but excluding capitalized interest is estimated to be approximately $600 million, or slightly below the cost of the first two, similarly equipped drillships ordered by the Company. As in the case of those rigs, the cost of the additional owner furnished equipment plus training and ramp-up costs is estimated to be approximately $50 million, and total costs are anticipated to be paid out of cash flow and available funds. The agreement with HHI also includes an option, exercisable in February of 2012, for an additional drillship of the same specification for delivery in the first half of 2015.

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FEG Orders Two GustoMSC Design Jack-Up Rigs from CMHI, China

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Chinese yard China Merchants Heavy Industry (CMHI) has recently signed an order for two jack-up rigs with Singapore-listed Falcon Energy Group (FEG) . The order includes options for two repeat rigs.

The rigs are of the GustoMSC CJ46-X100-D design, capable of drilling in a water depth of about 375 ft. Rig construction is expected to take about two years. They will be built at CMHI’s shipyard on Shenzhen’s Mazhou Island.

GustoMSC has signed the license agreement with CMHI and will also deliver the GustoMSC rack and pinion jacking systems, fixation systems and X-Y skidding system for the patented GustoMSC X-Y cantilever.

Special features of the CJ46-X100-D are:

– Drilling derrick: 170 ft, 1500 kips

– Mud pumps: 3 x 2,200 HP

– X-Y cantilever: large reach (70 x 40 ft) high load (2,500 kips)

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