Canada: TSC Group Secures Contract for Super M2 Jack-up Rig Package

TSC Group Holdings Limited secures a US$ 29.2 million contract for a Super M2 jack-up rig (300 ft) package from CIMC Raffles Shipyard. The deal comes with an option for another similar Super M2 jack-up rig package by the end of this year.

TSC Group will design, engineer and provide an integrated drilling rig package and power control package to CIMC Raffles Shipyard. This will be the fifth Friede and Goldman (F&G) designed Super M2 jack-up rig package that TSC Group has been providing to CIMC Raffles in two years time.

“The latest order reaffirms our unique ability to provide integrated solutions, which can only made possible with the strong international team and extensive experience in rig builds that TSC Group has. Our belief is: where others stop, TSC will go an extra mile to bring extraordinary value and tailor-made solutions to our end customers, shipyards and partners. Capitalizing on our capability in offering highly technical and innovative services provided by our strong team of technical and engineering stalwarts from the offshore equipment and drilling background, we provide entirely unique solutions to our clients compared to other equipment companies,” remarked Mr. Morgan Zhang, the CEO of TSC Group.

TSC Group will enhance its project management processes, so as to achieve greater efficiency in equipment manufacturing, installation and commissioning processes for this project. TSC Group will also work closely with CIMC Raffles Shipyard during the design phase to ensure all the required bespoke features are considered in the design as well as smooth delivery of the rig.

The F&G designed Super M2 jack-up drilling rig can operate in water depths of up to 300 feet, with a drilling depth of 30,000 feet, and in all weather conditions. The rig will be manufactured in accordance with American Bureau of Shipping’s standards, and is expected to be completed in the fourth quarter of 2013.

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Source: TSC Group, October 12, 2011; Image: CIMC