GSF's Development Driller II Bound for Atlantis

GlobalSantaFe revealed that BP has awarded a three year contract for their Gulf of Mexico Atlantis project to GlobalSantaFe's newbuild semisubmersible rig, Development Driller II. The estimated 20 well project, has a total contract value of approximately $200 million, and is expected to commence on July 1, 2005.

"We appreciate the confidence that BP has shown in our company and we are eager to take on the performance challenges of the Atlantis project," said GlobalSantaFe President and Chief Executive Officer, Jon Marshall.

The Development Driller II is a semisubmersible unit designed to be the optimal tool for development and subsea projects. The rig has 18,000 square feet of useable deck space and more than 7,000 tons of variable deck load, and is equipped with unique station keeping abilities consisting of a stand alone dynamic positioning system in addition to a self contained eight point mooring system. This development unit has multiple activity features which enable simultaneous operations on the drill floor, in the moon pool and on the main deck, and which are designed to deliver the performance efficiencies required in the challenging deepwater arena.