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Aker Confirms Order of New Ultra Deepwater Drillships

Source: www.gulfoilandgas.com 2/21/2011, Location: Europe

Following the successful share issue and with reference to the Letter of Intent announced 20 January 2011, Aker Drilling has through its subsidiary Aker Drilling Offshore Services Public Ltd. confirmed the turn key, EPC contract for construction of two ultra-deepwater drillships from DSME. The two drillships are to be delivered October and December 2013, respectively. Total project price per unit is estimated at USD 600 million including project management, loose drilling equipment, spares, and operations preparations. In addition, the contract includes two fixed price options for further two drillships to be declared within June and October 2011, respectively.

The dynamically positioned drillships will be the largest and most capable ultra-deepwater units in the market with a double derrick for efficient parallel operations, capable of operations in water depths down to 12,000 feet and with drilling depths of 40,000 feet. The units are designed for world wide operations in areas such as the Gulf of Mexico, Brazil, West Africa, India and the Far East.

"The decision to build the new ultra-deepwater drillships at DSME follows a careful evaluation of all newbuild opportunities. The solid track record and quality of work of DSME combined with the highest specified newbuilds place our company in the best position for taking advantage of a continued favourable development of the offshore drilling market. This investment will be our next step in the development of Aker Drilling as a leading contractor in the ultra-deepwater and harsh environment markets," says Geir Sjoberg, CEO of Aker Drilling ASA.

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