MIS Marks 2 Milestones for Sixth and Seventh Rigs

UAE-based MIS this week marked two milestones on First Energy Bank's Hulls 109 and 110, the sixth and seventh rigs being built by MIS with the keel laying taking place for Hull 109 and steel-cutting for Hull 110. Both rigs are being built for the First Energy Bank of Bahrain (FEB) an Islamic investment bank licensed by the Central Bank of Bahrain and headquartered in Manama, Kingdom of Bahrain.

Noble Denton Middle East is MENAdrill's strategic partner and is representing First Energy Bank on the project management side for the MENAdrill rigs. The Noble Denton team is currently fully set up at MIS' Sharjah yard to carry out plan approval and construction supervision. The two rigs, Hulls 109 and 110, are progressing according to the scheduled delivery dates of September 30 and December 31, 2010, respectively.

"We're very pleased with the progress on these two rigs," said Kevin Hudson, MIS Group CEO. "This shows clear evidence of the learning curve that MIS benefited from on its first two rigs."

Speaking on behalf of FEB’s MENAdrill, John McCormack, Noble Denton's Manager of Construction Projects said, "Having the team set up to work side by side with MIS has proved a successful formula leading to the project progressing smoothly and we are looking forward to the on-time delivery for both Hulls."

Both rigs are being designed to a Friede and Goldman (F&G) Super M2 design, with a 30,000 foot rated drilling depth and an operating water depth capability of 300 feet, making them ideal for offshore drilling in the Middle East and North Africa (MENA) region and South Asia drilling markets. Each rig is fitted with accommodation for 110 people.

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