YANTAI, China -- Dragon Oil has awarded Yantai Raffles Offshore, TSC Offshore China, and Momentum Engineering a contract for the lease and management of a new jackup rig.
Yantai Raffles Offshore will construct the rig with TSC Offshore China providing drilling and related equipment. Momentum Engineering will be responsible for the daily operation, management, offshore logistics and maintenance of the rig and base station.
The Friede & Goldman designed super M2 jackup will operate in water depths of up to 300 ft (91 m) with a drilling depth of 30,000 ft (9,144 m).
The rig is scheduled for delivery in 4Q 2011.
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