Exxon Mobil said Tuesday that it will use a specially designed drillship from a subsidiary of Transocean Ltd. to explore the deepwater Black Sea offshore Turkey.
Exxon announced plans for the Deepwater Champion at the ninth annual Turkish Oil and Gas Showcase and Conference in Ankara.
The ship is under construction at the Hyundai Heavy Industries shipyard in Ulsan, South Korea. It is expected to drill its first well next year.
The ship is capable of drilling up to 40,000 feet in water as deep as 12,000 feet.
Exxon entered into an agreement with the Turkish national oil company TPAO in November 2008 to jointly explore deepwater prospects in the Black Sea.
Exxon shares rose 8 cents to close at $21.64.
