Rowan Companies exercised a $620m option for a fourth drillship at Hyundai Heavy Industries (HHI), Seatrade Asia online reports.
The US-based drilling contractor said it plans to equip the rig with an additional 2,000 feet riser to allow drilling to depths of 12,000 feet from delivery. The cost for this rig, including commissioning, project management and spares, but excluding capitalized interest, is estimated to be approximately $620m.
"We are very pleased to add a fourth ultra-deepwater drillship to our fleet. The recent three-year contract obtained for our first drillship, the Rowan Renaissance, and strong customer enthusiasm for Rowan's history of operational excellence, high-specification drillship design and experienced deepwater team, reaffirms our confidence in our expansion into the ultra-deepwater market," Matt Ralls, president and ceo of Rowan said.
The drillship is due for delivery in the third quarter of 2015 and the company has an option for a fifth rig at HHI.
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