Shanghai: China’s first domestically produced drillship, Reignwood Opus Tiger 1, was christened in Shanghai on November 8.
It is the first such vessel where all intellectual property rights are exclusively owned by China.
The vessel was constructed by Shanghai Shipyard of China State Shipbuilding Corporation (CSSC) and funded by the Chinese Reignwood Group. The cost of construction is estimated at between $200m and $300m, reports say.
Liu Shaohua, vice-president of Reignwood Group, said the new drilling ship is suitable for oil and gas exploration in the areas of the South China Sea and the East China Sea. China seeks to break into the deep-sea drilling sector.
A second ship of the same standard is under construction, and another two will be built, Liu told press. [10/11/14]