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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)
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To: Elmer Flugum who wrote (619)3/2/1998 7:09:00 PM
From: RAW  Read Replies (1) of 2282
 
BHP orders deepwater drillship for Gulf of Mexico

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Sydney - Tuesday - March 3: BHP has signed a letter of intent
with Global Marine Inc to contract for a deepwater drillship.

The dynamically positioned drillship would be available to BHP
Petroleum for 30 of the first 36 months following delivery in the
fourth quarter of calendar 1999.

BHP also has two one-year options on the fourth and fifth years
after delivery.

Further negotiations are now under way to finalise contractual
arrangements.

The drillship will be used initially to drill exploration wells
in the Gulf of Mexico.

The new-build drillship will be capable of operating in water
depths of up to 10,000 feet and can be outfitted for extended
well-testing capability.

It is to be built at the Harland & Wolff Shipyard in Belfast,
Northern Ireland.
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