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TRANSOCEAN JV ACQUIRES FORMER WEST AQUILA FROM DAEWOO FOR $200 MILLION

Transocean announced that one of its subsidiaries, together with Perestroika A.S. and funds managed by Lime Rock Management L.P., have formed a joint venture, Liquila Ventures Ltd. (Liquila Ventures).
Liquila Ventures agreed with Daewoo Shipbuilding & Marine Engineering Co., Ltd. (“DSME”), to purchase Hull 3623, the ultra-deepwater newbuild drillship formerly known as West Aquila, for approximately $200 million.
Hull 3623 is a high specification, 1400 short-ton hookload ultra-deepwater drillship. This seventh-generation dual-activity drillship will have a large deck space, high load capacities, and will be dual-stack ready.
Transocean has made a $15 million noncontrolling investment in Liquila Ventures and maintains the exclusive right to market and manage the operations of the rig, which is expected to be delivered from DSME in the third quarter of 2023.
West Aquila was ordered by Seadrillin 2013. In August 2021 John Fredeiksen’s drilling company Northern Drilling cancelled the drillship contract with Daewoo.
(Source: Transocean/Infield)