Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Friday that it has clinched a 665 billion won ($591 million) deal to build a drill ship for a U.S. firm.
Daewoo Shipbuilding will deliver the vessel used to search for oil and gas wells in deep waters by August 2015, the company said in a regulatory filing.
The shipbuilder did not reveal the name of the buyer.
Last month, Daewoo Shipbuilding secured a similar deal valued at $570 million to build a drill ship.
A drill ship is a maritime vessel with a drilling apparatus and is used for exploratory offshore drilling for new oil and gas wells in deep waters.
The shipbuilder said a steady rise in demand for such specialized vessels is expected due in part to high crude oil prices that have made deep sea exploration and development more profitable.
So far this year, Daewoo has received orders valued at some $6.5 billion to build ships and offshore facilities.
Daewoo Shipbuilding is targeting orders valued at $13 billion this year. (Yonhap News)
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