Cosco Dalian Wins $184M Contract to Build Jackup for Derwent Ocean

Singapore-listed Cosco Corporation (Singapore) Limited reported Thursday that Cosco (Dalian) Shipyard Co., Ltd., a unit of the company’s 51 percent owned subsidiary, Cosco Shipyard Group Co., Ltd., has secured a $184 million contract from Derwent Ocean Limited S.A, part of Foresight Group to build one LeTourneau Super 116E Class design jackup.

The jackup, which will be built to ABS classification, with notation A1, will be a self elevating drilling unit capable of drilling HPHT (high pressure, high temperature) wells. Cosco added that the jackup will be equipped to drill to depths of up to 30,000 feet and operate in 350 feet of water as well accommodation for up to 120 persons.

Delivery of the jackup is scheduled for the third quarter of 2016, Cosco said in a press release on the Singapore Exchange.

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