COSCO Corporation to build jackup drilling rig

20 August 2012

The Board of Directors of COSCO Corporation (Singapore) Limited report that COSCO (Dalian) Shipyard Co. Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co. Ltd., has secured a USD 170 million contract from Talland Navigation Limited Corporation, a subsidiary of Foresight Limited to build one unit Jackup Drilling Rig based on the LeTourneau Super 116E Class design. The rig will be built to ABS classification, with notation A1, and will be a selfelevating drilling unit. The rig, with drilling depth of up to 30,000ft, will be capable of operating in 350ft of water, with accommodation for up to 120 persons onboard. The rig will be equipped for efficient operation and layout, optimization of deck space, ease of material handling, and safety of personnel on board.

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