Just so nobody can say I was asleep at the wheel

although there hasn’t been the same pace in the last quarter of 2011 with the announcements of more newbuild drilling vessels, this onecame across the wire recently

Bergen, Norway, headquartered Odfjell Drilling has been awarded a significant pre-contract award with BP for the provision of a newbuild, semi-submersible offshore drilling unit for use in the U.K.'s West of Shetland region. The contract value is approximately $1.2 billion, excluding options, and is the largest contract in Odfjell Drilling’s 40 year history.

[I]Photo: Odfjell Drilling[/I]

The new unit will be involved in drilling in the Schiehallion and Loyal fields and will form a key part of the Quad 204 development. The full contract, which is subject to approval by the Quad 204 Partnership, will have a fixed duration of seven years and is due to start in fourth quarter 2014.

The new state of the art sixth generation rig will be built in South Korea by Daewoo Shipbuilding & Marine Engineering (DSME).

“The new rig for BP is of the enhanced GVA7500 harsh environment design and will be a sister rig of the Deepsea Atlantic and Deepsea Stavanger previously delivered to us by DSME. We are pleased to continue our collaboration with DSME,” says Mr. Lieungh."

No impact on the GoM but still significant to know that the investment in new iron continues.