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Press Release

Hyundai Heavy Clinches USD 655 million Drillship Order

Hyundai Heavy Industries (HHI), the world's biggest shipyard, today announced that it won an order to build the fourth new ultra-deepwater drillship for Diamond Offshore Drilling Ltd., a subsidiary of Diamond Offshore Drilling Inc., on May 8. The total cost of this project, including commissioning, spares and project management, but excluding capitalized interest is expected to be approximately USD 655 million.

The vessel, measuring 229 m by 36 m with an operating depth of 3,600 m (12,000 feet), is scheduled to be delivered by the fourth quarter of 2014.

The new drillship will be of the same efficient and safety-enhancing design, Gusto P1000, as Diamond Offshore's three other units currently on order with Hyundai Heavy. The design helps to stabilize the drillship while operating and to use less fuel by having the thrusters operating in tandem. Design specifications also include location controlling system, computer propulsion system, and seven ram blowout preventers Hyundai Heavy uses to bring enhanced safety benefits to the drillship.

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*Photo: Mr. John Vecchio (left), EVP of Diamond Offshore Drilling and Mr. Kim Oi-hyun, SEVP & CEO of Hyundai Heavy at the signing ceremony of the new ultra-deep drillship for Diamond Offshore Drilling.


2012-05-21

Please see Hyundai Heavy Industries Co., Ltd. (HHI) company electronic office

Contacts for Media
Tel.: +82-52-202-2342
Fax.: +82-52-202-2347
e-mail: hhiopr@hhi.co.kr

Hyundai Heavy Industries Co., Ltd. (HHI) is the world's largest shipbuilding company, headquartered in Ulsan, South Korea. It has seven business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro & Electric Systems, Construction Equipment, and Green Energy.

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