Samsung Heavy sells cancelled drillship for $245m

South Korea’s Samsung Heavy Industries has sold one of its stranded drillships that were originally ordered by Ocean Rig to an undisclosed European buyer for $245m. 

The drillship is one of two units that were cancelled by Transocean in 2019 following its acquisition of Ocean Rig. 

The rig, known as the Ocean Rig Crete, should deliver in the first quarter of 2023, but the buyer has to confirm the delivery date by October 5, 2022, otherwise Samsung Heavy can choose to terminate the deal and keep the $15m deposit.

In June, the shipyard struck a deal to charter the other relinquished drillship, Santorini, to Italian energy services contractor Saipem for two years, with the option to purchase the ship.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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