Long-term Charter Contract Signed with Petrobras, Brazil's State-run Oil Company
Growth as a Leading Company in the Marine Energy Market Based on Technological Competitiveness
Hanwha Ocean (CEO Kim Heecheol) held a naming ceremony for its next-generation drillship, marking its official entry into the deep-sea drilling business.
The naming ceremony was attended by Philippe Levy, Head of Offshore Business at Hanwha Ocean, Renata Baruzzi, Director of Engineering, Technology, and Innovation at Petrobras, Rodrigo Ribeiro, CEO of Constellation, Clayton Coan, CEO of Hanwha Drilling, and other key stakeholders.
At the next-generation drillship naming ceremony held at Hanwha Ocean Geoje Shipyard, representatives from Petrobras, Constellation, Hanwha Ocean, and Hanwha Drilling are taking a commemorative photo. Provided by Hanwha Ocean
Renata Baruzzi, who served as the sponsor of the naming ceremony, named the drillship 'Tidal Action.'
This drillship features a proprietary design developed by Hanwha Ocean and is capable of drilling up to 12 km in water depths of up to 3.6 km. It is specifically engineered to accommodate a dynamic positioning system for stable hull positioning and a blowout preventer for safe drilling operations, ensuring both operational efficiency and safety.
In February last year, Hanwha Ocean established Hanwha Drilling to operate its drillships and made a strategic decision to manage the vessels in-house. The delivery of the 'Tidal Action' marks a significant milestone in Hanwha Ocean's entry into the offshore drilling sector.
Hanwha Ocean is pursuing a transformation into an EPCIO (Engineering, Procurement, Construction, Installation, and Operation) solution provider in the offshore business. The delivery of this drillship, which falls under the 'Operation' category, is expected to greatly contribute to securing new revenue streams.
Renowned for its eco-friendly and high-efficiency drillship construction technology, Hanwha Ocean plans to build a market-leading track record and expand its drillship value chain, providing offshore platform-based marine energy solutions.
Last year, Hanwha Drilling formed a partnership with Constellation, a leading offshore drilling company in Brazil. Through Hanwha Drilling's drillship, Constellation has signed a long-term charter contract with Petrobras, Brazil's state-run oil company, and is set to commence full-scale drilling operations in Brazilian waters in the second half of this year.
Philippe Levy, Head of Offshore Business at Hanwha Ocean, stated, "Delivering a world-class drillship and officially entering the offshore drilling business is a meaningful achievement. Based on our technological competitiveness and strategic vision, we will continue to grow as a leading company in the marine energy market."
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