Fred. Olsen Orders USD 700 mln Rig from Hyundai Heavy (South Korea)

A wholly owned subsidiary of Fred. Olsen Energy ASA has entered into a turnkey contract with Hyundai Heavy Industries Co., Ltd. for the building of a harsh environment ultra deepwater semi submersible drilling rig with scheduled delivery in March 2015. Total project cost is estimated to USD 700 million (including spare parts, owner furnished equipment [...]