CIMC Raffles wins $1.3bn twin rig order
Yantai-based shipyard CIMC Raffles won an order to build two ultra deepwater semi-submersible drilling units for Cyprus-based Frigstad Deepwater, with options for another four units, Seatrade Asia online reports.
The DP3 rigs will be capable of operating in water depths up to 12,000 feet and drilling to a depth of 50,000 feet.
The first two rigs, costing approximately $1.3bn, are scheduled for delivery at the end of the fourth quarter of 2015 and the second quarter of 2016 respectively.
“After the CIMC Group's takeover of the Yantai Raffles yard, we have seen considerable improvements to infrastructure and execution skills at the yard, which provides us with confidence in their ability to deliver a successful project,” said Simen Skaare Eriksen, ceo of Frigstad Offshore and director of the Frigstad Deepwater subsidiaries placing the orders.
