COSCO gets $66m rig order

COSCO Corporation (Singapore) Ltd's subsidiary has secured a contract with Seadrill to construct a new drilling rig valued at $66m, Seatrade-asia reports. Seadrill has exercised one of the options awarded by COSCO after it was awarded altogether two options in February 2011. COSCO (Nantong) Shipyard will delivery the rig equipped with enhanced drilling capabilities allowing it to drill at 6,500 feet and a drilling depth capacity of 20,000 feet. The contract excludes owner furnished drilling equipment. Seadrill currently operates a fleet of 61 units that comprises drillships, jack-up rigs, semi-submersible rigs and tender rigs for operations in shallow to ultra-deepwater areas in harsh environment and benign environments.