South Korea: Pacific Drilling Extends Option with SHI for Construction of UDW Drillship

Pacific Drilling S.A. announced today that one of its subsidiaries has reached an agreement with Samsung Heavy Industries to extend, until December 15, 2012, its existing option to construct an eighth ultra-deepwater drillship, on substantially the same commercial terms, with delivery scheduled for the first quarter of 2015.

The drillship will have a rated water depth of 12,000 feet, be equipped for 40,000 feet drilling depth, have accommodation for 200 personnel and be equipped to support dual gradient drilling.

With its best-in-class drillships and highly experienced team, Pacific Drilling is a fast growing company that is committed to becoming the industry’s preferred ultra-deepwater drilling contractor. Pacific Drilling’s fleet of seven ultra-deepwater drillships will represent one of the youngest and most technologically advanced fleets in the world. The company currently operates four recently delivered drillships under customer contract and has three drillships under construction at Samsung, one of which is under customer contract.

Press Release, September 19, 2012

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