Stena Evolution - fka. Ocean Rig Crete

[escveritas]

Stena Drilling has entered into a purchase agreement with Samsung Heavy Industries for Samsung Crete, ex Ocean Rig Crete, a drillship which was originally ordered by Ocean Rig prior to being acquired by Transocean. Though the purchase price was not mentioned, several sources have indicated that the rig was purchased for USD 245 Million, which is a fraction of the original built cost.

Curious Partners previously sold one of the four drillships to UK drillship operator Stena Drilling for 320 billion won.

“Our plan is to fit the drillship according to our specifications with hybrid technologies including the use of batteries. If we find a suitable contract, we will use the option to buy the unit” – says Erik Ronsberg, CEO of Stena Drilling.

Stena clearly recognises the need to decarbonize the economy as soon as possible. We also understand that society needs to function while we are in this important transition. Fossil resources will be phased out, but during the transition, Stena are taking the responsibility to offer safe and efficient services within energy supply. Stena is also investing in renewable energy with Stena Renewable which is one of the biggest providers of wind energy in Sweden. Stena Shipping and Ferries are leading the transition to fossil free shipping through different projects, for example with electrification of ferries and establishment of Green Methanol as a future fuel enabling carbon neutral shipping solutions. The overall task for society is to accelerate this transition whilst recognising the role fossil fuels have to play.