John Fredriksen's Northern Drilling is acquiring a $350m drillship newbuilding.
It has declared an option for Cobalt Explorer, a seventh-generation DP3 and ultra-deepwater (UDW) unit, at DSME in Korea.
The yard has agreed flexible delivery until the end of the first quarter of 2021.
The vessel is being purchased at close to a 50% discount after the previous owner ordered it for $660m.
