COSCO secures $356mln contract

Two units of jack-up drilling rig will be built for KS Drilling.

COSCO said when completed, these rigs will be among the world's deepest drilling rigs with drilling depth of up to 35,000 ft, capable of operating in 400 feet water depth and with accommodation for 150 persons onboard.

The first rig is scheduled to be delivered in the third quarter of 2013 and the second rig in the first quarter of 2014.

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