Diamond Offshore Drilling, Inc. DO today announced an agreement with
Hyundai Heavy Industries Co., Ltd. to build a new Moss CS60E design harsh
environment semisubmersible drilling rig. The 10,000' dynamically positioned
rig is expected to be delivered after November 2015. Projected capital cost of
the unit including spares, commissioning and shipyard supervision is
approximately $755 million.
The Company also announced that a three-year drilling contract has been
entered into with a subsidiary of BP plc BP to utilize the rig for
initial operations off the coast of South Australia. The initial operating
dayrate under the drilling contract is $585,000 per day and is subject to
upward adjustment for certain increased operating costs and equipment
modifications.
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