ICBC Financial Leasing Purchase 2 CIMC Raffles Drilling Rigs

ICBC Financial Leasing Company Limited signed a leasing project with Schahin of two ultra-deepwater drilling rigs during China-Brazil Business Council-Annual Meeting 2014 on 17th July 2014. The contract values $1.08bn and eventually serves for Petrobras. CIMC Raffles played the role of EPC in the two semisubmersible drilling rigs building and delivered them in November 2010 and April 2011, which performed in a good condition in Brazil.

The cooperation project signed by ICBC Financial Leasing Company and Schahin Group marks China and Brazil has set a new milestone in the fields of energy and offshore financing. Meanwhile, it is the first time that a Chinese financial leasing company participates in the Brazil offshore market. The project deepens commercial and financial cooperation between China and Brazil and supports the export of Chinese high-tech equipment. Simultaneously, it will indeed lead the marketing promotion and demonstration for Chinese financial agencies entering the American offshore market.