China: COSCO to Build Drilling Rig EDrill-3 for Energy Drilling

Energy Drilling Pte Ltd has entered into a definitive contract with COSCO (Guangdong) Shipyard to build semi-submersible tender assist drilling rig EDrill-3. The turn-key contract is effective immediately and includes supply of the DES (Derrick Equipment Set).

Delivery is set for June 2015 and Energy Drilling has an option for one additional unit on similar terms.

EDrill-3 is a GustoMSC Ocean400 TD rig design equipped to work alongside specialized deepwater trussed spars, tension leg platforms, and compliant towers outside of benign environments and is also very well suited to production drilling in shallow water due to its ability to drill and mobilize quickly in adverse weather conditions.

When completed, EDrill-3 will be the most modern semi-submersible tender assist drilling rig in the market with highest variable deck load (VDL) of 4,000 MT and the largest air-gap of 10m. The DES is designed to drill on wellhead platform elevations over 120ft above mean sea level and is equipped with a quad-mast rated for 1,000,000 lbs hook-load.

“Ordering EDrill-3 demonstrates our firm belief in the growing use of tender rigs in the future and especially the use of semi-tenders for deepwater production drilling. Our management team has extensive experience developing specifications, managing construction, and optimizing operations of tender rigs for oil companies. We believe EDrill-3 and the Energy Drilling group will progress semi-tender rigs from a niche market asset class to the de-facto choice for production drilling in all water depths and grow our market share accordingly” says Marcus Chew, CEO of Energy Drilling.

[mappress]

Energy Drilling, February 21, 2013