South Korea's Hyundai Heavy Industries bagged a bumper order from Diamond Offshore Drilling to build one harsh environment semi-submersible drilling rig costing approximately $755m.
The semi-submersible rig, scheduled to be delivered after November 2015, is attached to a three-year contract with a subsidiary of BP for operations off the coast of South Australia.
The initial dayrate under the contract is $585,000 a day and is subject to upward adjustment for certain increased operating costs and equipment modifications, according to Diamond Offshore.
“Our company, and its predecessors, have been continuously active in Australia since 1982, drilling over 600 wells; far more than any other drilling contractor,” said Larry Dickerson, ceo of Diamond Offshore.