Cosco bagged US$66mn worth of contract

Cosco Shipyard's contract with Seadrill includes constructing a new unit self erecting tender drilling rig T-17.

In a statement, Cosco said, Seadrill has now exercised one of the options awarded by Cosco.

The rig when completed, similar to T-15 and T-16 ordered in February 2011, will be equipped with enhanced drilling capabilities allowing for higher drilling efficiency including the advantage of a light weight drilling equipment set. The rig is capable to drill at 6,500 feet and a drilling depth capacity of 20,000 feet.

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