Cosco Corp to Build 2 Drilling Vessels for Norway's Sevan

SINGAPORE (Dow Jones Newswires), July 15, 2008

China-based Cosco Corp. Ltd. (F83.SG) Tuesday said it has agreed to build two drilling vessels for Norwegian rig operator Sevan Marine ASA (SEVAN.OS).

The two vessels, designed by Sevan, are designed for deepwater drilling in ice-free waters, Cosco said.

It didn't specify the value of the contracts.

Copyright (c) 2008 Dow Jones & Company, Inc.

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