SBI Offshore to supply drill equipment for offshore rig

Singapore: Singapore-listed SBI Offshore has signed a memorandum of understanding (MOU) with China Sunrise Group (CSG) to supply drilling equipment systems for CSG’s new CS70 semi-submersible offshore rig.

Guangzhou-based CSG has shortlisted three state-owned shipyards in China to construct the rig, which has been designed by Moss Maritime of Norway.

CSG is expected to sign an engineering, procurement and commissioning (EPC) agreement with the winning yard in the first half of 2015.

Work should commence in the first half of 2015 for completion in 42 months, SBI Offshore says.

The rig is intended for deployment in the North Sea (Norsok Compliance) at water depth of up to 3,600 meters. The dual-drilling semi-submersible will be the largest of its kind to be built in China to date, SBI says.

SBI Offshore has signed technical agreements with two of the three short-listed yards and is expected to conclude a signed technical agreement with the third yard by mid-January 2015, the company said. [29/12/14]

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