Samsung Heavy Industries has received a $1.08bn contract from Norway-based Seadrill to build two deepwater drillships for a European company.

Under the deal, the South Korean shipbuilder will deliver the vessels in the first two quarters of 2013.

The drillships will be capable of operations in water depths up to 12,000ft and will have a hook load capability of 1,250t.

The contract includes an option for two more ships, to be declared during the first quarter of 2011.