Hyundai Heavy Industries (HHI), the world's biggest shipyard, today announced that it won an order to build the fourth new ultra-deepwater drillship for Diamond Offshore Drilling Ltd., a subsidiary of Diamond Offshore Drilling Inc., on May 8. The total cost of this project, including commissioning, spares and project management, but excluding capitalized interest is expected to be approximately USD 655 million.

The vessel, measuring 229 m by 36 m with an operating depth of 3,600 m (12,000 feet), is scheduled to be delivered by the fourth quarter of 2014.

The new drillship will be of the same efficient and safety-enhancing design, Gusto P1000, as Diamond Offshore’s three other units currently on order with Hyundai Heavy. The design helps to stabilize the drillship while operating and to use less fuel by having the thrusters operating in tandem. Design specifications also include location controlling system, computer propulsion system, and seven ram blowout preventers Hyundai Heavy uses to bring enhanced safety benefits to the drillship.