STX Group wins Noble Corp ship order

STX Group wins Noble Corp ship order STX Group, owner of Europe's largest shipyard, won a drill ship contract worth as much as US$1.2 billion from Noble Corp, the third-largest US offshore oil driller.

The order, the first of its type won by South Korea-based STX Heavy Industries Co, includes a US$300 million deepwater drill ship for delivery in 2011 and an option for three additional vessels, STX Group said in a statement yesterday.

Record oil prices and depleting reserves in shallow waters are spurring energy producers to explore for crude in deep seas. Noble is charging as much as US$525,000 a day for some rigs as it expands operations in Brazil, Mexico, Nigeria and Qatar.

STX will build the hull and install propulsion systems in Dalian, China, and Dutch-based design and construction firm Huisman Equipment BV will later add topside equipment, Noble said. The drill ship will measure 190m long and 32m wide and will be able to drill to a depth of 40,000 feet.