Opus Offshore Ltd News

Chinese rig builder Honghua Group has been awarded a contract by Orion Engineering and Management Ltd  to build a semi-submersible drilling rig, with options to build three more. According to a statement released by Honghua, the rig deal worth US$320 million was signed by its offshore outfit Honghua Offshore Oil & Gas Jiangsu Company Ltd. According to the Agreement the order is expected to be executed within 60 days. The option to purchase an additional 3 rig units with the same specification of the Rig from Honghua Offshore under the same conditions each respectively will be at an interval of six-months. The Rig and Option Units under the Letter of Award will be equipped with the Company’s in-house design and manufacture drilling package.