The drillship is used for exploratory offshore drilling to new oil or gas wells in deep water. In June 2009, “K” LINE participated in the ultra-deepwater drillship project to be chartered by Petroleo Brasileiro S.A. (“Petrobras”) for pre-salt exploration. The Brazilian company “ETESCO” operates the drillship, and we provide charter service for a maximum of 20 years from April 25, 2012.