Contracts were signed by Dolphin Drilling Ltd. with Anadarko Petroleum for two drillships that are expected to be in support of Anadarko's future long-term drilling programs offshore Mozambique.
The contracts for the Belford Dolphin and a newbuild drillship under construction by Hyundai Heavy Industries are each for four years.
The Belford Dolphin contract will start Jan. 1, 2012, in direct continuation of its existing contract with Anadarko, which had previously been scheduled to continue to April 2013. The value for the Belford Dolphin contract is approximately $701 million.
The four-year term of the newbuild drillship contact will begin on commencement of operations offshore Mozambique expected in the fourth quarter 2013, following delivery by Hyundai and mobilization to Mozambique. The newbuild drillship contract value is approximately $727 million, including a mobilization fee of $15 million. The new drillship will add a second BOP for about $35 million.
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