Daewoo Shipbuilding & Marine Engineering released a regulatory filing on July 15 that the Korean building conglomerate had won a contract to construct two drillships from Seadrill Limited.
Contact value comes to KRW 1.2486trn (equating to around $1.11bn) and the contract was signed on July 12 for delivery slated for December 31, 2015.
Meanwhile, Vantage Drilling of the US announced on July 10 through a regulatory filing of the US Securities and Exchange Commission (SEC) that the company had entered an agreement to build a drillship with Daewoo for delivery planned in August, 2015.  
Regarding the newbuilding drillship 'Cobalt Explorer', Vantage will pay the yard around $59.5m of down payment and the high-specification drillship will be able to operate in water depths of up to 12,000 feet and drill to depths of 40,000 feet.