Ensco defers drillship delivery

UK-based drilling contractor Ensco has agreed with a South Korean shipyard to postpone the delivery of a newbuild drillship by two years. 

Ensco recently entered into an amendment to the Ensco DS-10 drillship construction contract with the shipyard constructing it, Samsung Heavy Industries (SHI).

Ensco informed on Monday that, under the terms of the amendment the delivery date for the drillship has been extended to March 31, 2019. However, Ensco may elect to take delivery of the drillship earlier upon giving SHI 75 days’ advance notice.

Notwithstanding the extended delivery date, SHI agreed to complete construction of the drillship by March 31, 2017.

The driller also added that payment of $75 million of the approximately $309 million unpaid balance of the purchase price for the drillship has been deferred to March 31, 2019, or such earlier date as Ensco may elect to take delivery of the drillship. The remaining $234 million of the purchase price is to be paid in January 2017.

The DP3 ultra-deepwater drillship, based on the Samsung GF12000 hull design, was ordered in 2013 with the delivery date initially scheduled for the third quarter of 2015.

In the second quarter of 2015, the company postponed the delivery and a large milestone payment for Ensco DS-10 by 18 months to the first quarter of 2017.

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
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

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

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

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