Singapore: Singapore-based Dynamic Drilling Holdco is ready to exercise options on three options it holds at Cosco Dalian Shipyard.
Founded three years ago, Dynamic Group has three jack-ups and a drillship on charter to India’s Oil and Natural Gas Corporation (ONGC). On top of that, there’s a rig plus three options on order at Cosco Dalian Shipyard in northern China. The options are likely to be declared soon, Manav Kumar, a director at Dynamic told our sister site Maritime CEO, and all the orders may well go on charter to parties beyond India.
Dynamic’s joint venture partners include Singapore’s Keppel and Seacor from the US. Management takes place out of Singapore, where rigs are also flagged.
Cosco Dalian has established itself as one of the leading names in Chinese jack-up rig construction, and together with Dalian Shipbuilding Industry Co, the northern Chinese city can boast more rigs on order than anywhere else in the People’s Republic.
For the full interview, click here. [03/04/14]