Stena Drilling Orders New Ice-Class Drillship

Stena Drilling is delighted to confirm its order for a new drillship at Samsung Shipyard in Korea at an estimated total delivery price of US $1.15 billion. The vessel will be "ice classed" with additional hull thickness. This order will bring its total fleet to eight units. The existing Stena fleet consists of four semi-submersibles, which are active offshore Norway, Great Britain, Angola and Australia, plus three drillships one of which is operating offshore Brazil and the other two are still under construction at Samsung Korea, but have contractual commitments when delivered.

Stena DrillMAX IV will be dynamically positioned with six propellers and will have a total displacement of 97,000 tons.

"Given the current market dynamics for both oil and gas, it seems highly likely that we will see a high oil price for the foreseeable future, ensuring productive employment and a profitable contract for our new unit, when delivered" says Tom Welo, Managing Director of Stena Drilling, Aberdeen."

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