Hyundai Heavy Industries of South Korea has won a contract to build a harsh environment semi- submersible rig for Diamond Offshore Drilling, with the capital cost of the unit put at approximately US $755m.

Diamond said the agreement with Hyundai will see the yard build a Moss CS60E design rig, with the 3,048 m (10,000 ft) water depth capable, dynamically positioned unit expected to be delivered after November 2015. The projected capital cost of $755m includes spares, commissioning and shipyard supervision.

The driller also then confirmed it had signed a 3-year drilling contract with a subsidiary of BP for the rig to operate initially off the coast of South Australia. The initial operating dayrate is $585,000 per day, and is subject to upward adjustment for certain increased operating costs and equipment modifications.

The rig will measure 123 m (404 ft) in length and 96 m (315 ft) in width.