Shipyard delivery for the first drillship is scheduled for mid-2015. The remaining three drillships are expected to be delivered from the shipyard at approximately six-month intervals thereafter. After customer acceptance, the contracts are expected to commence in 2015 and 2016, contributing an estimated revenue backlog of $7.6 billion, excluding mobilization. The aggregate capital investment for the four newbuild rigs is an estimated $3.0 billion, excluding capitalized interest.
All four drillships have advanced capabilities: each is designed to operate in water depths of up to 12,000 feet and drill wells to 40,000 feet. Featuring state-of-the-art equipment, including Transocean’s patented dual-activity drilling technology, the newbuild drillships will possess industry-leading hoisting capacity. The drillships will also have a variable deckload capacity of 23,000 metric tons and feature enhanced well completion capabilities. In addition, each newbuild rig will be outfitted with two 15,000 psi blowout preventers (BOPs), which are expected to reduce customer non-productive time between wells. The four newbuild drillships will be able to accommodate a future upgrade to a 20,000 psi BOP, when it becomes available. The rigs will also feature diesel engines configured to comply with anticipated Tier III International Maritime Organization (IMO) emissions standards.
“These contracts add 40 years of rig work to our revenue backlog, expand and upgrade our ultra-deepwater fleet, improve our fleet mix and provide an opportunity to expand our relationship with an important customer with which we have 40 years of experience in advancing the state of the art in offshore drilling technology,” said Steven L. Newman, President and Chief Executive Officer of Transocean Ltd. “We look forward to providing Shell with incremental value through the addition of these seventh-generation, ultra-deepwater drillships.”
Peter Sharpe, Shell’s Executive Vice President, Wells, said, “Shell continues to develop its deepwater operations and modernize its contracted rig fleet at fair market rates. These state-of-the-art deepwater rigs, on which we are collaborating with Transocean to design, will comply with the highest industry standards for safety, operations and environmental protection for drilling deepwater wells.”
The newbuild rigs will be constructed at the Daewoo Shipbuilding and Marine Engineering Co., Ltd. facility at Okpo, South Korea, where Transocean’s five Enhanced Enterprise-Class rigs were built and where the company currently has two other ultra-deepwater drillships under construction. Construction on the first drillship is expected to commence during the fourth quarter of 2013.
- Shell Gives Transocean a Huge Shot in the Arm with 40 Years of Drilling Contracts (gcaptain.com)
- Atwood Oceanics Orders Third Ultra-Deepwater Drillship (gcaptain.com)
- Time to Buy This Offshore Driller? (fool.com)
Nautronix’ NASeBOP Control System provides a method of backup control of critical BOP functions in the event of failure of primary communication and control. At the heart of the system is Nautronix’ ADS² (Acoustic Digital Spread Spectrum) signalling technology. The system achieves a highly reliable communications link from a surface vessel to a subsea isolation device, such as a full BOP, or a simple isolation device such as which would be used during surface BOP drilling.
The NASeBOP subsea system consists of two Subsea Control Units (SCU) connected to remote transducers. Each SCU is capable of controlling and monitoring up to eight functions. This includes control of an Emergency Disconnect Sequence (EDS). A 10 meter cable allows remote transducers to be positioned away from the SCUs, thus reducing the risk of shading or multi path effects caused by adjacent structures or subsea objects. Two SCUs provide system redundancy as each can be used independently for control and monitoring.
Mark Patterson, CEO of Nautronix comments: “We have invested more than £1M in Research and Development over the past year with a significant amount in the area of our NASCOM product family supporting acoustic switches for BOPs. We are very pleased to have been awarded these contracts only a few weeks after the NASDrill RS925 orders for these drillships. It is a great testament to the technology, products and the investment Nautronix has made and I am delighted that such a well known and respected company such as Rowan Companies, Inc. have chosen Nautronix ADS² acoustics for their new deepwater drilling rigs. Nautronix continues to build upon our strong track record in the Acoustic BOP control system market.”
The Nautronix system offered is the only system in the world that is fully compliant with API 16D and 17E standards and all test ports are testable to full operating depth (4000msw/5800psi)
The two NASeBOP systems will be delivered in 2013.
- UK: Nautronix to Supply Acoustic Positioning System for Noble’s New Drillship (mb50.wordpress.com)
- Noble’s New Drillship Enters Three-Year Contract in GoM (mb50.wordpress.com)
- Diamond Offshore Orders New Drillship in South Korea (mb50.wordpress.com)
- Maersk Bags Gulf of Mexico Contract for Its Under-Construction Drillship (mb50.wordpress.com)
The potential contract revenue for the one-year period is US$204 million which includes US$18 million in mobilization revenue. In addition, the rig can earn a daily performance bonus of up to 10 percent.
West Leo is currently under construction at Jurong Shipyard in Singapore with delivery scheduled for the end of January 2012. The unit will subsequently start its transit to Ghana where commencement on the Tullow contract is expected in mid April 2012. West Leo will be the second unit of the Moss Maritime CS50 Mk II design that Seadrill puts into operations.
Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says, “We are very pleased to have secured our first deepwater contract with Tullow, a fast growing and dynamic independent oil and gas company. We believe Ghana, which is one of the most promising new deepwater frontiers, may offer significant opportunities for us going forward. We continue to strengthen our revenue backlog and have with this contract secured attractive employment for all our deep and ultra-deepwater units.”
- Tullow Strikes Oil at Enyenra Well, Offshore Ghana (mb50.wordpress.com)
- Tullow Discovers Oil Offshore French Guiana (mb50.wordpress.com)
- ROC Sells Offshore Mauritania Interests to Tullow (mb50.wordpress.com)