Pacific Drilling’s ultra-deepwater drillship, the Pacific Sharav, has been awarded a five-year contract by Chevron U.S.A. Inc. for operations in the U.S. Gulf of Mexico. Estimated maximum contract revenue, including mobilization and client requested modifications, is expected to be approximately $1.1 billion, bringing Pacific Drilling’s total contract backlog as of June 22, to approximately $3.2 billion.

Pacific Sharav is scheduled for delivery by Samsung Heavy Industries in Korea in fourth quarter 2013, upon completion of construction and client requested modifications. The drillship will be capable of operating in water depths of up to 12,000 ft (3,657 m) and drilling wells up to 40,000 ft (12,192 m) deep.

Pacific Drilling’s chief executive officer, Chris Beckett, stated, “This contract exemplifies our strategic commitment to building strong customer relationships and allows us to leverage the operations support infrastructure that we have already developed in the region.”