Vantage-invested JV to build ultra-deepwater drillship at STX

Share This

Vantage Drilling Company has entered into a joint venture with an affiliate of Skeie Group and other investors to construct a high-specification drillship at the STX Offshore & Shipbuilding yard in South Korea. Vantage has invested US$31 million in the joint venture entity, Sigma Drilling, and will initially own approximately 42% of the equity in Sigma. Sigma was formed to construct a BT-UDS dynamically positioned ultra-deepwater drillship that will be capable of operating in 12,000-ft water depths, have a 25,000-metric ton variable deck load, a dual-activity derrick, two seven-ram blowout preventer units and be capable of storing up to 12 subsea Christmas trees. Delivery of the vessel is expected in November 2015.

“We view this high-spec drillship construction project as an excellent opportunity for Vantage to further grow our presence in the expanding ultra-deepwater drilling market, with only a small capital commitment,

View the Original article