Metrostar and Odfjell Drilling enter into a joint venture agreement for ultra deepwater drillships
Metrostar Management Corp. through Metro Exploration and Odfjell Drilling have entered into a joint venture for the joint ownership of the two state of the art ultradeepwater drillships of Gusto design to be delivered from Hyundai Heavy Industries (HHI) in South Korea in 2nd and 4th quarter 2011. The drillships will be equipped for operations in water depths up to 3000 meters. However, the vessels are designed to be upgraded for operations in water depths up to 4000 meters, should it be assigned for such employment. The vessels incorporate state of the art technology for safe and efficient operations in ultra deep water.
Metro Exploration will retain 60% ownership in the vessels ordered earlier this year from HHI and Odfjell Drilling will take a 40% ownership in the vessels and be responsible for the construction supervision, marketing and operation of the vessels.
Metrostar Management Corp. through Metro Exploration and Odfjell Drilling have entered into a joint venture for the joint ownership of the two state of the art ultradeepwater drillships of Gusto design to be delivered from Hyundai Heavy Industries (HHI) in South Korea in 2nd and 4th quarter 2011. The drillships will be equipped for operations in water depths up to 3000 meters. However, the vessels are designed to be upgraded for operations in water depths up to 4000 meters, should it be assigned for such employment. The vessels incorporate state of the art technology for safe and efficient operations in ultra deep water.