Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Wednesday that it has won a $1.1 billion order to build two oil-drilling rigs.
Under the deal with Songa Offshore SE of Norway, Daewoo Shipbuilding will deliver the vessels by the end of 2014, the company said in a statement.
The semi-submersible vessels, each 116 meters long and 97 meters wide, will be chartered to Statoil ASA of Norway for eight years after the delivery. The contract also includes an option for two more units, Daewoo Shipbuilding said.
Daewoo Shipbuilding has won deals valued at $10 billion so far this year to build 42 ships.
Shares of Daewoo Shipbuilding were trading at 25,950 won on the Seoul bourse as of 10:00 a.m., up 5.06 percent from the previous session's close.