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Drilling Fleet (Tables)
6 Months Ended
Jun. 30, 2014
Drilling Fleet  
Changes in our construction work in progress, including capital expenditures and capitalized interest

For the six months ended June 30, 2014 and 2013, the changes in our construction work in progress, including capital expenditures and capitalized interest, were as follows (in millions):

 

 

 

Six months ended June 30,

 

 

 

2014

 

2013

 

Construction work in progress, at beginning of period

 

$

2,710

 

$

2,010

 

 

 

 

 

 

 

Newbuild construction program

 

 

 

 

 

Transocean Siam Driller (a) (b)

 

 

74

 

Transocean Andaman (a) (b)

 

 

82

 

Transocean Ao Thai (a) (b)

 

 

13

 

Deepwater Asgard (c)

 

272

 

24

 

Deepwater Invictus (c)

 

477

 

25

 

Deepwater Thalassa (d)

 

58

 

84

 

Deepwater Proteus (d)

 

21

 

82

 

Deepwater Conqueror (e)

 

109

 

 

Deepwater Pontus (d)

 

83

 

4

 

Deepwater Poseidon (d)

 

80

 

3

 

High-Specification Jackup TBN1 (f)

 

3

 

 

High-Specification Jackup TBN2 (f)

 

2

 

 

High-Specification Jackup TBN3 (f)

 

2

 

 

High-Specification Jackup TBN4 (f)

 

2

 

 

Ultra-Deepwater drillship TBN1 (g)

 

28

 

 

High-Specification Jackup TBN5 (f)

 

2

 

 

Ultra-Deepwater drillship TBN2 (g)

 

27

 

 

Other construction projects and capital additions

 

316

 

449

 

Total capital expenditures

 

1,482

 

840

 

Changes in accrued capital expenditures

 

(76

)

(29

)

 

 

 

 

 

 

Property and equipment placed into service

 

 

 

 

 

Transocean Siam Driller (a) (b)

 

 

(236

)

Transocean Andaman (a) (b)

 

 

(242

)

Other property and equipment

 

(350

)

(506

)

Construction work in progress, at end of period

 

$

3,766

 

$

1,837

 

 

(a)     The accumulated construction costs of this rig are no longer included in construction work in progress, as the construction project had been completed as of June 30, 2014.

 

(b)    The High-Specification Jackups Transocean Siam Driller, Transocean Andaman and Transocean Ao Thai commenced operations in March 2013, May 2013 and October 2013, respectively.

 

(c)     Deepwater Asgard and Deepwater Invictus, two newbuild Ultra-Deepwater drillships under construction at the Daewoo Shipbuilding & Marine Engineering Co. Ltd. shipyard in Korea, are expected to commence operations in the third quarter of 2014.  The total carrying amount included capitalized costs of $272 million, representing the estimated fair value of construction in progress acquired in connection with our acquisition of Aker Drilling ASA in October 2011.

 

(d)    Deepwater Thalassa, Deepwater Proteus, Deepwater Pontus and Deepwater Poseidon, four newbuild Ultra-Deepwater drillships under construction at the Daewoo Shipbuilding & Marine Engineering Co. Ltd. shipyard in Korea, are expected to commence operations in the first quarter of 2016, the third quarter of 2016, the first quarter of 2017 and the second quarter of 2017, respectively.

 

(e)     Deepwater Conqueror, a newbuild Ultra-Deepwater drillship under construction at the Daewoo Shipbuilding & Marine Engineering Co. Ltd. shipyard in Korea, is expected to commence operations in the fourth quarter of 2016.

 

(f)      Our five unnamed Keppel FELS Super B 400 Bigfoot class design newbuild High-Specification Jackups under construction at Keppel FELS’ shipyard in Singapore do not yet have drilling contracts and are expected to be delivered in the first quarter of 2016, the third quarter of 2016, the fourth quarter of 2016, the first quarter of 2017 and the third quarter of 2017, respectively.

 

(g)    Our two unnamed dynamically positioned Ultra-Deepwater drillships under construction at the Jurong Shipyard PTE Ltd. in Singapore do not yet have drilling contracts and are expected to be delivered in the second quarter of 2017 and the first quarter of 2018, respectively.