Seadrill

China-based integrated marine service provider Yangzijiang Shipbuilding has received its first order through Jiangsu Yangzijiang Offshore Engineering to develop and supply a jackup drilling rig for the offshore oil and gas industry.

The order, valued at $170m, was received from Explorer I, a wholly-owned subsidiary of Mena Offshore Investments and managed by Offshore Logistics (Asia Pacific).

Yangzijiang will develop and supply a unit following the Letourneau Super 116E Class design self-elevating Mobile Offshore Jackup Drilling Rig.

The rig will be built to ABS Classifications and will have the capacity to drill down to 30,000 feet depth and operate in a water depth of 350 feet.

Designed to accomodate a crew of 120, the rig will be fitted with advanced drilling equipment and systems.

Yangzijiang will construct the unit at its existing shipyard in Jiangsu New Yangzi and integrate at its new offshore base in Taicang. The order is expected to be delivered by the second quarter of 2015.

Yangzijiang executive chairman, Ren Yuanlin, said the new contract will set the company’s path into the oil and gas industry.

"The rig will be constructed in our existing Yangzijiang Shipbuilding (Holdings) Ltd shipyard, JNYS in China, which allows the group to leverage off its existing world-class vessel building capabilities," Yuanlin added.

"We identified offshore as a growing market and have worked hard on adding that exposure to our portfolio in years. Our perseverance, dedication and commitment have finally paid off with the successful entering of the first rig building agreement."

Mena CEO Dino Pereira expressed confidence that Yangzijiang will use its experience and expertise for the construction of the jackup drilling rig.


Image: Yangzijiang Shipbuilding has received an order from Explorer I to develop and supply a jack-up drilling rig. Photo courtesy of Lars Christopher Nøttaasen.