Singapore's D'Emerald Corp has signed a memorandum of understanding (MOU) with China Petroleum Liaohe Equipment Corp (CPLEC) to acquire a jackup rig built by the Chinese yard, D'Emerald Corp. told Rigzone Monday through an exclusive release.
The jackup rig – expected to be delivered in 2Q 2013 – is suitable for deepwater exploration and production. It operates at a maximum water depth of 300 feet and a nominal drilling depth of 30,000 feet.
D'Emerald Corp is at present negotiating with various parties who have expressed interest in securing services of the rig, the company said in its statement.
D'Emerald Corp, incorporated in 2012, is helmed by three female directors; Norlela Wahab (CEO), Sri Sulistiowati (COO) and Audrey Douglas (CFO). Its purchase of the jackup rig marks the company's entry into the oil and gas industry.
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