Subsidiaries of Frigstad Deepwater Ltd sign construction contracts for two ultra deepwater semi-submersible drilling units from CIMC Raffles in Yantai, China. The 7th generation drilling units are of the Frigstad D90™ design, developed by Frigstad Engineering and tailor made for safe and efficient exploration and development drilling in ultra-deep waters. The rigs will be capable of operating in water depths up to 12,000 feet and drilling to a total depth of 50,000 feet. The units will be outfitted with a DP3 dynamic positioning system, full dual activity hydraulic drilling package with 2 x 1,400 ST hoisting capacity and 2 x seven ram BOPs.