China Rongsheng Heavy to Build Two Jack-Up Rigs

China Rongsheng Heavy Secures Two Jack-Up Rigs EPC Contracts

China Rongsheng Heavy Industries Group Holdings Limited announced today its breakthrough in offshore engineering market by securing two CJ46 jack-up rigs EPC contracts, with a total contract value of exceeding USD 360 million.

It also marked the first jack-up rig orders received by the Group. With sound developments made in its transformation and advancement strategy, China Rongsheng Heavy Industries is accelerating its growth into the high-end offshore equipment manufacturing field as a world-class offshore engineering service provider.

The two 1+1 jack-up rigs contracts are separately signed with two Singaporean customers. Each of them includes one confirmed order and one option of same product. These orders were signed in an EPC contract (covering Engineering, Procurement, and Construction), with Rongsheng Offshore & Marine Private Limited (Rongsheng Offshore & Marine) and Jiangsu Rongsheng Heavy Industries Company Limited.

China Rongsheng Heavy Industries is one of the few shipbuilders in China capable of undertaking an EPC project, and the winning of these orders highlight the technological and manufacturing strength of the Group in the offshore engineering field. China Rongsheng Heavy Industries has targeted 2013 as a breakthrough year of its offshore engineering business, and is striving to secure more offshore engineering orders.

Since the establishment of Rongsheng Offshore & Marine in October 2012, the company has accumulated confirmed orders of two jack-up rigs and one deep-water tender barge, with several options of related products. These orders demonstrate the recognition received by the Group in the international shipbuilding and offshore engineering market.

Representing the high-tech and high value-added engineering apparatus in deep-water oil exploitation, the CJ46 jack-up rigs are used as exploratory drilling platform for oil and natural gas. The jack-up rigs measure 65.25 meters in length overall, 62 meters in breath overall and 8 meters i n depth of hull. With a maximum working water depth of 112 meters and drilling depth of 9,144 meters, the jack-up rig meets the global requirements of oil drilling operations in mild-temperature waters.

China Rongsheng Heavy Industries, March 25, 2013

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