Offshore Rig Services Says First Rig on Schedule

Offshore Rig Services says that the construction of the first rig at Yantai-Raffles Shipyard is progressing as scheduled, and that an important milestone was reached June 1st, by starting the steel cutting process for the structural steel.

The main steel construction process will last until June 2007.

The ORS Pioneer is a Global Maritime GM-4000 designed rig capable of working in 2,460 feet of water. The rig is scheduled to be delivered during the fourth quarter of 2008.

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