Diamond Offshore Begins Ultra-Deepwater Upgrade of Ocean Monarch

Diamond Offshore Drilling has begun a major upgrade of the Victory-class semisubmersible Garden Banks, which has been renamed Ocean Monarch. The modernized rig will be designed to operate in up to 10,000 ft. of water in a moored configuration and will be among the most capable of the Company's upgraded Victory-class units. The project is budgeted at $300 million including capitalized overhead and interest, spares, testing and delivery, mobilization to Singapore, and all other associated expenditures. The rig, which is the fourth in a series of 5th generation Victory-class upgrades that includes the Ocean Baroness, Ocean Rover and Ocean Endeavor, is expected to be ready for service in the fourth quarter of 2008.

The Monarch, currently cold stacked in the Gulf of Mexico, is expected to be mobilized to Keppel-FELS Ltd.'s shipyard in Singapore in mid 2006.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
equipment operator
Expertise: Civil Engineering|Hydraulic & Pneumatic
Location: Oklahoma, 
Electronics technician
Expertise: Electrical Technician|Field Service Tech|Mechanical Technician
Location: El Reno, OK
Pipeline Technician - Arrow
Expertise: Heavy Machinery Operator|Pipeline Services|Piping Technician
Location: Keene, ND
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours