Daewoo Delivers Second $80-Million Pacesetter Rig To Santa Fe Drilling

Daewoo Shipbuilding and Heavy Machinery Ltd. in Korea recently delivered a second semi-submersible drilling rig to Santa Fe Drilling Company of Orange, Calif. Both rigs constructed for Santa Fe Drilling, a subsidiary of Santa Fe International Corporation, are self-propelled, Friede and Goldman L-907 Pacesetter types, with export prices of $80 million each. These rigs are capable of drilling to a depth of 24,750 feet in up to 1,500 feet of water, and provide living quarters for 96 personnel.

Since opening two years ago, Daewoo's Okpo Shipyard has delivered eight drilling rigs of two types. In addition to the two built for Santa Fe, the Okpo yard has constructed two semi-submersibles for Reading and Bates Drilling Company of Houston, and one each for Houlder Offshore Drilling Company and Atlantic Drilling Company, both of the U.K.

A semi-submersible rig for Korea Drilling Company is now under construction at the Okpo Shipyard. With this rig's delivery in the spring of 1984, the drilling firm will be the first Korean company to own a drilling rig it operates. The rig will be used to explore Korea's continental shelf and other national coastlines.

Also under construction at Okpo are 12 containerships for U.S. Lines, chemical tankers for Stolt-Nielsen of Norway, bulk carriers for Malaysia, and gas-compression platforms for Kuwait and Saudi Arabia.

Maritime Reporter Magazine, page 40, Dec 15, 1983

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.