South Korea: HHI Delivers Drillship Deepsea Metro II

November 25, 2011

Deep Sea Metro Ltd. has taken delivery of the drillship Deepsea Metro II from Hyundai Heavy Industries.

President & CEO of Odfjell Drilling, Simen Lieungh states:

“This is the second project for Deep Sea Metro this year and fourth overall that Odfjell Drilling has successfully delivered since the Deepsea Atlantic in 2009. We are pleased to see that our site team and the yard have succeeded in every way, with regards to safety and schedule. The safety results in all our projects are very satisfactory, which is an important indicator of professionalism and accountability in all aspects. With the delivery of this state of the art vessel, we are now looking forward to the operations ahead.”

Deepsea Metro II will commence its first drilling campaign for Petrobras in Brazil.

The vessel is a highly efficient, state-of-the-art 6th generation ultra deepwater drillship. It is equipped with the latest technology and with focus on zero discharge and other green rig features.

Ownership

Deepsea Metro II is the second of two ultra deepwater drillships ordered by Deep Sea Metro Ltd. The Metrostar Group retains 60 percent ownership in Deepsea Metro I & II and Odfjell Drilling has a 40 percent ownership. Odfjell Drilling is also responsible for the construction follow-up, management and operation of the vessels.

The construction projects from 2006 to 2011:

Since 2006, Odfjell Drilling has been in the forefront of design and construction on a total number of four ultra-deepwater installations at the shipyards DSME and HHI in South Korea.

• Deepsea Atlantic: Delivered from DSME February 2009

• Deepsea Stavanger: Delivered from DSME July 2010

• Deepsea Metro I: Delivered from HHI June 2011

• Deepsea Metro II: Delivered from HHI November 2011

MAIN DIMENSIONS

Length, overall 229.6m 753.3 ft

Length, between perpendiculars 210.1m 689.3 ft

Breadth, molded 36.0 m 118.1 ft

Depth at side, molded 17.8 m 58.4 ft

Max Design Draught, molded 11.0 m 36.1 ft

Displacement at 11.0 m draft 67.700 mt 74.625 st

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