Daewoo Shipbuilding and Marine Engineering (DSME) is set to deliver a newbuild drillship to a Bermuda-based Northern Drilling.
The DP3 drillship Cobalt Explorer was originally ordered by US-based Vantage Drilling. However, the contract between Vantage and DSME was terminated in 2015 after the owner became unable to pay for the vessel's construction.
Cobalt Explorer has since remained with DSME until an agreement for the sale of the vessel was signed with Northern Drilling on Tuesday, April 30.
