Vessels Used for Deep-water Oil Exploration

Samsung Heavy Industries Co., South Korea’s third-largest shipbuilder, said Thursday that it has won a US$ 1.08 billion order to build two drill ships for a European company.

Under the deal with Seadrill Ltd. of Norway, Samsung Heavy will deliver the vessels used for deep-water oil exploration by May 2013, the company said in a regulatory filing.

Samsung Heavy said the deal also includes an option to build two more vessels.

Samsung Heavy has won contracts valued at US$ 9.1 billion so far this year, which will keep the company busy for 31 months.

Shares of Samsung Heavy were trading at 33,400 won on the Seoul bourse as of 10:50 a.m., up 0.75 percent. (PNA/Yonhap)

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