Ultra-deepwater well construction presents very unique technical and economic challenges to deepwater operators worldwide. Wells are now being planned and drilled in water depths up to 12,000 ft and total depths beyond 30,000 ft. The technical complexity of these wells requires enabling rig technologies to get the wells drilled safely and competently. Moreover, their extended well delivery times and associated economic impact forces operators to explore new ways to control unit development costs and Returns on Capital Employed (See Slide 2). Key to achieving such cost control is improving rig efficiency and focusing on flat time reduction.

Practical experience gained through continuous development (see Slide 3) created an integrated drillship design and a new approach on how to automate, not mechanize, the drilling equipment on mobile offshore drilling units. Combined, these principles can significantly reduce flat times and, thereby, reduce well delivery costs.

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