COSCO Win Jack-up Drill Rig Contract from Talland

Press Release
Monday, August 13, 2012

COSCO Corp. secures US$170-million order from Talland Navigation Corp. Ltd. for a jack-up drilling rig.

COSCO (Dalian) Shipyard Co. Ltd., a subsidiary of COSCO Shipyard Group Co. Ltd., has secured a US$170-million contract from Talland Navigation Limited Corporation, a subsidiary of Foresight Limited (London) to build a jack up rig based on the LeTourneau Super 116E Class design.

The new rig will be built to ABS classification, with notation A1, and will be a self- elevating drilling unit, with a drilling depth of up to 30,000 feet ,and will have accommodation for up to 120 persons on board.

It will be equipped for efficient operation and layout, optimization of deck space, ease of material handling, and safety of personnel on board and is scheduled to be delivered in the first quarter of 2015.

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