EDC was formed as a joint venture between the Egyptian General Petroleum Corporation (EGPC) and the A.P. Moller – Maersk Group of Denmark 30 years ago.
EGPC is Egypt's national petroleum corporation and oversees exploration, production, refining, marketing and distribution of oil & gas within the country.
Construction of the jackup is expected to commence in the third quarter of 2007 with delivery scheduled in December 2009.
The jackup will be built based on PPL Shipyard's proprietary BMC Pacific 375 Deep Drilling design and proprietary components. The rig will be equipped to drill high pressure and high temperature wells at 30,000 feet whilst operating in 375 feet of water. It will have accommodation with full catering and amenities for 120 persons.
The BMC Pacific 375 Deep Drilling Jackup design is a proven design, successfully accepted by the industry and fetching some of the highest charter rates. Since its launch in 2004, a total of 21 jack-up rigs have been ordered based on this design. 6 units have been successfully delivered to the owners with 15 other units in various planning, engineering and construction phases with deliveries stretching from 2007 to 2009.
Maersk Contractors, a unit of the A.P. Moller – Maersk Group, has one similar BMC Pacific 375 rig in its fleet currently working in Brunei and another rig under construction in Jurong Shipyard, a subsidiary of SembCorp Marine Ltd.
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