China: COSCO Delivers Offshore Tender Rig to Seadrill

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Nantong) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned COSCO Shipyard Group Co., Ltd, has delivered a tender rig, “T-15”, to Seadrill.

The delivery documents were signed by and between COSCO Nantong and Seadrill on 18 December 2012.

Seadrill T-15 is a purpose built, self-erecting, tender assisted drilling (TAD) rig pairing an advanced design Light Weight Drilling Equipment Set with an upgraded T-12 type monohull barge. Simultaneous offline stand building, cementing, and electric line logging capabilities combined with a DES designed to rig move using only 3 heavy lifts creates unmatched efficiencies.

The new unit is particularly well suited for production drilling on equatorial region continental shelves.

COSCO, December 27, 2012

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