Hyundai Heavy Industries Delivers World’s Largest Semi-submersible Drilling Rig to Diamond Offshore
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[Click image to enlarge]
Hyundai Heavy Industries (HHI) has completed the delivery of Ocean Greatwhite semi-submersible drilling rig to US-based Diamond Offshore.
The rig measures 123 m in length and 78m in width. It has the capacity to operate in waters up to 3 km deep and drilling down to a depth of 10.67 km from the sea surface.
It will be chartered to BP for operation in the Great Australian Bight from October this year.
The delivery installment for the Ocean Greatwhite was worth KRW460bn ($395m). HHI will use the money to improve its cash flow situation.
An HHI official said: “The close cooperation between Diamond Offshore and HHI on the basis of mutual trust is what made the delivery of Ocean Greatwhite possible.”
An official at HHI was quoted by Korea Herald as saying, “Amid a difficult market situation, we were able to successfully deliver the drilling rig, thanks to the strong relationship with the owner.
“Based on our experience of building large-scale facilities, we expect to supply for other projects at the right time soon,” the official added.
HHI received the order to build the Ocean Greatwhite from Diamond Offshore in 2013. The contract was $630m. So far, it has delivered four other drillships to Diamond Offshore.
Source: (July 19, 2016) Energy Business Review
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