Ocean Rig, Samsung agree to delay drillship delivery

Offshore drilling contractor Ocean Rig and Samsung Heavy Industries (SHI) have agreed to postpone the delivery of the seventh-generation newbuilding drillship Ocean Rig Santorini until September 30, 2019.

Under the agreement, the date can be brought forward at the option of the drilling rig contractor.

The 228-metre by 42-metre DP-3 drillship will accommodate 215 people. It will include four 65-man lifeboats and two lifeboats.

The seventh-generation drillship is designed to drill in water depths up to 3,650 metres.

The remaining yard installments are expected to total $372 million of which $360 million will be financed by non-recourse seller’s credit that matures in June of 2023.