South Korea: DSME Secures USD 1.1 Billion Semi Rigs Order

DSME won a new order for two semi-submersible rigs with Norway based Songa Offshore during the Offshore Technology Conference (OTC) held in Houston, U.S.A on 3rd May.

The value of this contract is approximately 1.1 billion USD and the rigs will be delivered in the middle of 2015. After delivery, these rigs will be chartered by Statoil, the Norwegian state oil company for eight years, and they will provide services to the Norwegian Coast, the North Sea, and Polar Regions.

Statoil is operating a ‘Category-D’ oil well exploitation project on the Norwegian continental shelf and it will be possible for these rigs to drill up to a maximum depth of 8,500m in 100~500m of water.

These semi-submersible rigs will be 116m long, 97m wide, and fitted with the Dynamic Positioning System which includes a GPS system.

These rigs will also possess high technology items such as a Positioning Mooring System which will allow the rig to keep the same position in shallow seas and Winterization technology in consideration of the Arctic cold.

Mr. Jaeho Ko, the President & CEO of DSME attended this signing ceremony with Mr. Man-Ho Seong, the chairman of DSME’s labor union, for the second time following the signing of the last LNG contract. They demonstrated to Songa Offshore their strong will to construct the world’s best products in every respect including delivery date, quality, and safety, based on the recently stabilized labor-management relationship.

This latest contract puts DSME’s 2012 secured orders worth 5 billion USD at 15 vessels and offshore projects with 66% of the orders coming from offshore projects.

[mappress]

Source: DSME, May 15, 2012