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Frigstad Offshore has ordered two newbuild ultra deep-water semi submersibles from CIMC Raffles at a cost of $1.3 billion.
The Cyprus-registered, Singapore-based contractor has ordered the pair on turnkey contracts from the CIMC Raffles Yantai yard in China, with options for another four units.
Frigstad Offshore chief executive Simen Skaare Eriksen said the order was a further step on the company’s road to becoming “a leading operator of ultra deepwater drilling units at the very top end of this highly attractive market segment”.
Eriksen said he had full confidence in the yard’s capabilities, adding that “after the CIMC Group’s takeover of the Yantai Raffles yard, we have seen considerable improvements to infrastructure and execution skills at the yard”.
The dynamically-positioned drilling units are of Frigstad Engineering’s Frigstad D90 design.
The semi-submersibles are capable of operating in water depths up to 12,000 feet and drilling to a total depth of 50,000 feet, and will be outfitted with two blowout preventers as well as a dual activity drilling package.
The pair are due for delivery by the end of the fourth quarter of 2015 and by the end of the second quarter of 2016 respectively.
Frigstad Offshore is to manage the construction, marketing and operation of the rigs, which were ordered through its drilling suBSIdiary Frigstad Deepwater.
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