DryShips subsidiary Ocean Rig has exercised options to construct two ultra-deepwater drillships at Samsung Heavy Industries (Shi ).

The two vessels are scheduled for delivery by the end of October 2013.

The pair of newbuilds will be upgraded to seventh generation vessels, in comparison with Ocean Rigs’ earlier four vessels.

The new vessels will be capable of drilling in 12,000ft of water depth, will have a seven ram BOP, a dual mud system, enhanced riser handling and storage system, and ballast water treatment system.