Houston’s Ensco agreed to an amendment with Samsung Heavy Industries (SHI) for the ENSCO DS-10 drillship construction contract that will see the delivery extended again until 31 March 2019.
Ensco said it may elect to take delivery of the drillship earlier upon giving SHI 75 days’ advance notice. Notwithstanding the extended delivery date, SHI agreed to complete construction of the drillship by 31 March 2017.
A payment of US$75 million of the approximately $309 million unpaid balance of the purchase price for the drillship has been deferred to 31 March 2019, or such earlier date as Ensco may elect to take delivery of the drillship.
The remaining $234 million of the purchase price is to be paid in January 2017.