Singapore-listed Viking said its wholly-owned Viking Asset Management will invest $5.4m to take a 30% stake in Quick Booms Investments Limited, a special purpose vehicle controlled by Singaporean Chan Kwan Bian.
Chan, co-founder of Labroy Marine, which was sold to Dubai Drydocks World in 2008, has a contract with a yard to build the CJ46-X100-D GustoMSC designed rig for use in water depth up to 375 feet.
The latest investment in Quick Booms follows Viking's announcement in November 2013 of its first investment in Smart Earl Investments which has a contract with China Merchant Heavy Industries to build a $180m rig.
Both the jack-up rigs are expected to be completed within the fourth quarter of 2015.
Viking's offshore system solutions business also secured the rights to supply all its three main types of offshore-related products and services for the first rig, and it is eyeing to secure similar rights for the second rig.
“Viking is moving rapidly to develop its new pillar of growth – mainstream offshore rig chartering,” said Daniel Lin, executive director of Viking.
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