World’s Largest Semi-Sub Rig Delivered

Published at 08:52AM - 19/07/16

Hyundai Heavy Industries (HHI) announced it has completed the delivery of the world’s largest semi-submersible drilling rig.

The Korean shipbuilder delivered the Ocean Greatwhite unit to the US-based Diamond Offshore Drilling on July 15.

“The close cooperation between Diamond Offshore and HHI on the basis of mutual trust is what made the delivery of Ocean Greatwhite possible,” an IHH official said in a statement.

World’s Largest Semi-Sub Rig Delivered

The delivery instalment that HHI received from the Houston-based drilling contractor was valued at 460 billion won (£305.64 million) and will be used to help improve HHI’s cash flow, the company informed.

The rig measures 123 metres (403.54 feet) in length and 78 metres (255.9 feet) in width.

It is capable of operating in waters up to 3 kilometres (1.86 miles) deep and of drilling down to a depth of 10.67 kilometres (6.63 miles) from the sea surface.

Additionally, the rig is expected to be chartered to BP for operation in the Great Australian Bight from October this year.

New Zealand Buys Vessel from HHI

The order to build Ocean Greatwhite had been won by HHI in 2013 and was valued at US$630 million (£476.2 million).

It follows the award of four other drill ships that HHI delivered to Diamond Offshore so far.

“Amid a difficult market situation, we were able to successfully deliver the drilling rig, thanks to the strong relationship with the owner”, an official at HHI told Korea Herald.

“Based on our experience of building large-scale facilities, we expect to supply for other projects at the right time soon,” he added.

The Ocean Blacklion drill ship was the fourth unit HHI built for Diamond Offshore, marking its 2,000th delivery.

In the meantime, the New Zealand government announced today it has approved the acquisition of a new fleet tanker for the national Navy.

The platform, valued at US$349 million (£263.9 million), will be built by HHI and is expected to be delivered in 2020.

Last updated on 08:24PM - 09/08/16