GlobalSantaFe Orders New Ultra-Deepwater Drillship

GlobalSantaFe's new ultra-deepwater drillship, to be constructed in Ulsan, Korea, by Hyundai Heavy Industries for delivery in 2010.

GlobalSantaFe Corporation has made an agreement with Hyundai Heavy Industries, Ltd. (HHI) to build a new ultra-deepwater exploration and development drillship for delivery in September 2010. Shipyard construction costs are expected to total approximately $740m.

The drillship will be constructed in Ulsan, Korea, under a turnkey agreement, which provides that HHI will contract directly with equipment suppliers and deliver the drillship to GlobalSantaFe for a fixed price. The new vessel is an enhanced version of GlobalSantaFe's highly successful GSF C.R. Luigs and GSF Jack Ryan drillships, which entered service in 2000. Like those rigs, it will be capable of drilling in water depths up to 10,000 feet and is upgradeable to 12,000 ft. In addition, the new rig will feature advanced dynamic positioning capabilities, triple activity load paths, a derrick rated for 4 million pounds, dual liquid-storage systems, larger quarters and an efficient deck design that provides significantly more space than previous-generation drillships.