Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading offshore facilities manufacturer, today announced it delivered Ocean Greatwhite, the world’s largest semi-submersible drilling rig, to Diamond Offshore, a Houston-based drilling contractor on July 15.

The delivery installment worth 460 billion won ($395 million) HHI received from the client will help improve HHI’s cash flow. Ocean Greatwhite, measuring 123 m in length and 78 m in width, is capable of operating in waters up to 3 km deep and drilling down to a depth of 10.67 km from the sea surface. The rig will be chartered to BP for operation in the Great Australian Bight from October this year.

HHI won the order worth $630 million to build the rig in 2013 and has delivered four other drillships to the US-based drilling contractor so far.

An HHI official said, “The close cooperation between Diamond Offshore and HHI on the basis of mutual trust is what made the delivery of Ocean Greatwhite possible.”