Growing Customer Demand Drives Newbuild Program
Maintains Edge with Newest Ultra-Deepwater Fleet
Reinforces Strategy of Fleet Standardization
LONDON--(BUSINESS WIRE)--
Responding to the high level of customer demand driven by an ongoing
trend of successful offshore discoveries, Ensco
plc (NYSE: ESV) has ordered a new advanced-capability,
ultra-deepwater drillship to be built at the Samsung Heavy Industries,
Co. Ltd. (SHI) Shipyard in Geoje, South Korea. The vessel, ENSCO DS-8,
will be the sixth Samsung DP3 drillship in the Ensco fleet, extending
the benefits of Ensco’s fleet standardization strategy. It is scheduled
for delivery in the third quarter of 2014.
The contract also includes options for two additional drillships of the
same design. The fleet expansion will extend Ensco’s advantage of
operating the newest ultra-deepwater fleet among global drilling
contractors.
Including commissioning, systems integration testing, project management
and spares, the construction cost is expected to be approximately $645
million. Consistent with the previous five Samsung ultra-deepwater
drillships ordered since 2007, the new unit will have advanced
capabilities to meet the demands of ultra-deepwater drilling in water
depths of up to 12,000 feet and a total vertical drilling depth of
40,000 feet. New features on ENSCO DS-8 include retractable thrusters,
enhanced safety and environmental features, improved dynamic positioning
capabilities and advanced drilling and completion functionality
including below-main-deck riser storage, triple fluid systems, offline
conditioning capability and enhanced client and third-party facilities.
Ensco Chairman, President and CEO
Dan Rabun
said, “An ongoing trend of
new deepwater oil and gas discoveries around the globe is creating a
high demand for equipment capable of tapping those resources. Our track
record of leading safety and deepwater performance increasingly makes us
the driller of choice for operators working in complex offshore fields.
Our high-grading strategy will ensure that we continue to be equipped to
respond to rising customer demand.” The latest EnergyPoint industry
survey rates Ensco first in total customer satisfaction among offshore
drillers overall and specifically in safety, health and environment
performance as well as in deepwater drilling.
The new drillship is based on the proprietary Samsung GF12000 hull
design measuring 755 feet in length and 125 feet in width. It will offer
a payload in excess of 22,000 metric tons and a 1,250-ton hoisting
system. The rig’s design and capabilities include numerous features that
increase operating efficiency. Primary to these capabilities are
enhanced and redundant offline tubular stand building features and a
165-ton active heave compensating construction crane, allowing for the
deployment of subsea production equipment without interference with
ongoing drilling operations. The rig, which will be initially outfitted
for drilling in water depths of up to 10,000 feet, will be equipped with
dynamic positioning in compliance with DPS-3 certification; six-5.5
megawatt thrusters for enhanced station-keeping; expanded drilling
fluids capacity; a 15,000-psi subsea well control system with six rams,
upgradable to seven rams and/or a second BOP stack; burner boom for well
testing; and living quarters for up to 200 personnel.
“This addition to our fleet is in keeping with our strategy of
standardization, which streamlines construction, operations, inventory
management, training, regulatory compliance, repairs and maintenance,”
Mr. Rabun pointed out. “We are very pleased to continue our successful
newbuild drillship program with Samsung.”
Ensco’s three active DP3 drillships are currently contracted into 2016
in the U.S. Gulf of Mexico, Brazil and West Africa. A fourth, ENSCO
DS-6, is undergoing pre-commissioning modifications in preparation for
its first well assignment under a five-year contract with BP. ENSCO DS-7
is scheduled for delivery in the second half of 2013.
Ensco plc (NYSE: ESV) brings energy to the world as a global provider of
offshore drilling services to the petroleum industry. For 25 years, the
company has focused on operating safely and exceeding customer
expectations. Ensco is ranked #1 for total customer satisfaction and
received top honors in 12 of 16 other categories in the most recent
annual survey by EnergyPoint Research. Operating the world’s newest
ultra-deepwater fleet and largest fleet of active premium jackups, Ensco
has a major presence in the most strategic offshore basins across six
continents. Ensco plc is an English limited company (England No.
7023598) with its registered office and corporate headquarters located
at 6 Chesterfield Gardens, London W1J 5BQ.
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Statements contained in this press release that are not historical
facts are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements include words or phrases such as
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,”
“project,” “could,” “may,” “might,” “should,” “will” and similar words
and specifically include statements regarding day rates and backlog, as
well as the timing of delivery, mobilization, contract commencement,
relocation or other movement of rigs. Such statements are subject
to numerous risks, uncertainties and assumptions that may cause actual
results to vary materially from those indicated, including downtime and
other risks associated with offshore rig operations; governmental
action, civil unrest and political and economic uncertainties;
terrorism, piracy and military action; risks inherent to shipyard rig
construction; possible cancellation or suspension of drilling contracts
as a result of mechanical difficulties, performance or other reasons;
governmental regulatory, legislative and permitting requirements
affecting drilling operations; our ability to attract and retain skilled
personnel on commercially reasonable terms; environmental or other
liabilities, risks or losses; and actual contract commencement dates.
In addition to the numerous factors described above, you should also
carefully read and consider “Item 1A. Risk Factors” in Part I and “Item
7. Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in Part II of our most recent annual report on
Form 10-K, which is available on the SEC’s website at www.sec.gov
or on the Investor Relations section of our website at www.enscoplc.com.
Each forward-looking statement speaks only as of the date of the
particular statement, and we undertake no obligation to publicly update
or revise any forward-looking statements, except as required by law.
Source: Ensco plc