North Atlantic Drilling Ltd. entered into a turnkey construction contract with Jurong Shipyard in Singapore for the construction of a new harsh environment semisubmersible drilling rig, valued at $650 million.

The new rig will be of a Moss CS60 design, N-Class compliant and be fully winterized to meet the harsh and demanding weather conditions in the North Atlantic areas.

Maximum water depth will be 10,000 ft (3,048 m) with a maximum drilling depth of 40,000 ft (12,192 m). Further, the rig will be outfitted with both DP3 dynamic positioning systems and complete anchor handling capabilities. The rig will have accommodation capacity for up to 150 people in Norway, whereas internationally the capacity will be 180. The rig will be outfitted with a six ram blowout preventer (BOP) stack and have the capacity for storing and handling a second BOP.

The new rig is scheduled for delivery first quarter 2015.