Seadrill has entered into an agreement with Dalian Shipbuilding Industry Offshore Co (DSIC) in China for the construction of two jack-up drilling rigs.

The new units are scheduled for delivery in the fourth quarter of 2012 and first quarter of 2013.

Total project cost is estimated at $380m, which include project management, drilling and handling tools, spares and capitalized interest.

In addition, Seadrill has option agreements for construction of further two similar units with DSIC.

The two rigs are based on the Friede & Goldman JU2000E design and are suitable for operations world wide, including the southern North Sea.

The units have the capability to operate in water depths up to 400ft and drill to depths of 30,000ft.