Transocean to tender for drillships | Global Maritime Social Network

Transocean to tender for drillships

Written by TVT Marine Monday, 18 January 2010 02:09

Transocean, owner of the world’s largest fleet of offshore drilling rigs and drillships, could award contracts to build two new drillships, worth $1.5bn in total, this quarter to meet growing demand for deepwater and Arctic operations, foreign media reports.

The New York-listed company is working with US oil major ExxonMobil on designing a $1bn drillship that will be able to operate in the most harsh and cold environments.

Switzerland-based Transocean is also looking to order construction of a $500m Voyager-class drillship from an Asian shipyard and has called for yards to provide estimates of their construction costs before it opens an official tender.

The drillship would be around 210 m long, with a displacement of 50,000 tons and will be able to drill in the deepest waters the oil industry has attempted.

New York investment bank Dahlman Rose and Scottish analysts ODS-Petrodata highlighted Transocean’s investment plans in recent reports, but Transocean has so far declined to comment on the deals.

Transocean’s chief executive Bob Long said in November that the company was involved in negotiations covering the charter of an Arctic-class rig.

The Dahlman Rose analysts said: “ExxonMobil is looking to sign an Arctic-class rig with Transocean. It is looking to sign a newbuilding contract worth $1bn. Transocean is also calling for bids to build a new Voyager-class drillship, and several shipyards have been invited to bid.”

These potential contract awards are seen as further evidence that the oil industry will revitalize its investment in frontier exploration and deepwater developments after a lull in 2009, leading to greater demand for new offshore drilling systems.

Transocean is in the middle of a drillship newbuilding campaign as it expands its fleet and consolidates its position as the global leader in deepwater drilling systems.

It is involved in five drillships that are currently under construction at South Korean shipyards on top of the four drillships and one semi-submersible it added to the fleet last year.

“Out of our 10 newbuildings we launched five last year, including the Development Driller III semi-submersible,” said a Transocean spokesman.

Source: Asiasis