Yantai wins US$310m rig order from Norway firm
Yantai Raffles Shipyard, founded and controlled by Singapore's Brian Chang, has secured another order for a semi-submersible drilling rig - worth a whopping US$310 million - from Norway's Awilco Offshore.
Yantai's contract for the latest semi-submersible drilling rig - WilPromotor - takes the company's order book to almost US$2 billion.
The contract takes Yantai's order book to almost US$2 billion, which includes six drilling rigs, floating storage supply and off-loading (FPSO) units, plus other offshore vessels.
The latest semi-submersible - WilPromotor - will be built to operate on the Norwegian Continental Shelf.
It will be the third semi-submersible rig built by Yantai for Awilco's wholly-owned subsidiary, Offrig Drilling.
WilPromotor is sche duled for delivery in the fourth quarter of 2009.
Listed on Norway's Oslo OTC Stock Exchange in May 2006, Singapore-headquartered Yantai specialises in jack-up and semi-submersible rigs, FPSOs, luxury yachts and other vessels.
The yard boasts state-of-the-art building facilities - with a huge gantry crane capable of lifting 20,000 tonnes due for completion in the middle of this year at a cost of more than US$20 million.
The yard, about halfway between Beijing and Shanghai and roughly the same distance from Seoul, aims to be a serious competitor to Singapore's Keppel Offshore & Marine and SembCorp Marine - the world's biggest builders of offshore rigs.
Just last week, Yantai said it had built and launched the world's first specialised vessel for transporting luxury yachts. The US$54 million, 15,000-tonne Yacht Express is a specially designed semi-submersible carrier for Dockwise Yacht Transport, a business unit of Dutch company Dockwise Transport.
Awilco Offshore, formerly Awilco AS, is an oil and gas player. Listed on the Oslo Stock Exchange in May 2005, it operates offshore rigs with a focus on two markets - drilling and accommodation. Awilco Offshore operates through 15 subsidiaries, one of which is Offrig Drilling.
Yantai's contract for the latest semi-submersible drilling rig - WilPromotor - takes the company's order book to almost US$2 billion.
The contract takes Yantai's order book to almost US$2 billion, which includes six drilling rigs, floating storage supply and off-loading (FPSO) units, plus other offshore vessels.
The latest semi-submersible - WilPromotor - will be built to operate on the Norwegian Continental Shelf.
It will be the third semi-submersible rig built by Yantai for Awilco's wholly-owned subsidiary, Offrig Drilling.
WilPromotor is sche duled for delivery in the fourth quarter of 2009.
Listed on Norway's Oslo OTC Stock Exchange in May 2006, Singapore-headquartered Yantai specialises in jack-up and semi-submersible rigs, FPSOs, luxury yachts and other vessels.
The yard boasts state-of-the-art building facilities - with a huge gantry crane capable of lifting 20,000 tonnes due for completion in the middle of this year at a cost of more than US$20 million.
The yard, about halfway between Beijing and Shanghai and roughly the same distance from Seoul, aims to be a serious competitor to Singapore's Keppel Offshore & Marine and SembCorp Marine - the world's biggest builders of offshore rigs.
Just last week, Yantai said it had built and launched the world's first specialised vessel for transporting luxury yachts. The US$54 million, 15,000-tonne Yacht Express is a specially designed semi-submersible carrier for Dockwise Yacht Transport, a business unit of Dutch company Dockwise Transport.
Awilco Offshore, formerly Awilco AS, is an oil and gas player. Listed on the Oslo Stock Exchange in May 2005, it operates offshore rigs with a focus on two markets - drilling and accommodation. Awilco Offshore operates through 15 subsidiaries, one of which is Offrig Drilling.