Total project price is estimated at $600m (includes project management, drilling and handling tools, spares, capitalized interest and operations preparations).

The new unit is similar to the two drillships Seadrill ordered from Samsung in November 2010 with enhanced water depth capacity, technical capabilities as well as increased accommodation capacity compared to previous generation drillships.

The drillship will be capable of operations in water depths up to 12,000ft, and will have a hook load capability of 1,250 tons.

This rig is also outfitted with seven ram configuration of the BOP (Blow Out Preventer) stack, especially targeting operations in challenging areas such as the Gulf of Mexico, Brazil and West Africa.

Seadrill has simultaneously secured an extension of the maturity date for a further option agreement to build its seventh drillship to be delivered from Samsung since 2008.