First Jack-Up Rig in 30 Years

DSME has been awarded its first Jack-up rig contract after a 30 year hiatus.

DSME signed the contract on September 25th with Maersk Drilling, a Denmark based company, for one Jack-up Rig. The value of this contract is approximately 530 million USD. It is scheduled to be delivered in the middle of 2016 and will provide service to the Norwegian Coast.

It is able to drill down to a maximum of 12km in water up to 150m in depth and operate in the bad weather and intense cold of the North Sea.

DSME won this contract based on its construction experience in drilling facilities operated in the North Sea. DSME hopes that this contract will enable it to make further inroads into the Jack-up market.

This latest contract puts DSME’s 2013 secured orders at 40 vessels and offshore platforms worth approximately 10 billion USD and moved it closer to the year’s sales target(13 billion USD).

DSME, October 15, 2013