MIS Cuts Steel on Third New-Build Jack Up Rig

Maritime Industrial Services held the official steel cutting ceremony October 25th, for the construction start of MIS' third "new build" jack up drilling rig.

Hull 107 is another Freide & Goldman Design Super M2 for client KSAM2 Petrodrill Offshore Inc. and has a contract delivery in the first quarter of 2010. Original contract sum is U.S. $ 148 million and has since been increased to U.S. $ 152 million with the execution of a Contract Variation Order for additional equipment.

Client representatives, officials from ABS Middle East and senior MIS management, attended the steel-cutting ceremony. MIS will shortly be launching their first "new build rig ," Hull 104, which will be completed and commissioned at the MIS quayside for delivery scheduled in August 2008.