SBI Offshore in negotiations to build five jack-up rigs

Singapore: SBI Offshore announced that it has commenced discussions with an unspecified Middle East-Chinese consortium to build up to five jack-up drilling rigs.

SBI Offshore has already secured a $24m contract from the consortium to design a rig which will be classified by ABS.

The consortium, whose members are involved in oil and gas activities, has indicated that the rigs will eventually be deployed in the Middle East and various parts of Asia.

"We are hopeful of a successful outcome in our negotiations for the Rigs and intend to secure more of such higher-value projects in the future,” commented Chan Lai Thong, executive chairman of SBI.
 
SBI Offshore said it expected to build the first rig in either China or Singapore if the negotiations are successful. [27/08/14]

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