Atwood holds off delivery dates for two drillships

Atwood Oceanics, an offshore drilling contractor, has agreed with Daewoo Shipbuilding & Marine Engineering (DSME) to delay the company’s requirement to take delivery of two newbuild ultra-deepwater drillships. 

According to the drilling contractor, delivery dates for Atwood Admiral and Atwood Archer have been pushed to September 30, 2017 and June 30, 2018, respectively.

Atwood previously delayed these two drillships in April 2015 pushing the delivery dates from previously planned September 2015 to September 2016 for the Atwood Admiral, and from June 2016 to June 2017 for the Atwood Archer.

In consideration of the agreement, Atwood says it will make payments of $50 million for each drillship on December 31, 2015, and DSME will extend all remaining milestone payments, $93.9 million for the Admiral and $305 million for the Archer, until their respective delivery dates.

The drilling contractor says it retains the option to take earlier delivery of each vessel, subject to a forty-five day notice period to DSME.

This is yet another agreement of this kind for DSME as another drilling contractor, Transocean, agreed with the yard in October to postpone deliveries of its two drillships by a year each.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply