Sept 10 U.S. contract driller Rowan Cos Plc
said it has exercised its option to build a fourth
ultra-deepwater drillship with Hyundai Heavy Industries Co Ltd
at a cost of about $620 million.
The cost includes commissioning, project management and
spares, but excludes capitalized interest, the company said in a
statement adding that the expected delivery in March 2015.
The total cost for Rowan's fourth drillship will be about 6
percent higher than the first three drillships due to equipment
price and labor cost increases, it added.
Houston-based Rowan, whose 31 shallow-water rigs are working
in the Middle East, the North Sea, Trinidad, Southeast Asia and
the Gulf of Mexico, said it expects the first drillship to be
delivered by late 2013. The second and third drillships are
expected to be delivered in the second and fourth quarters of