The order has been placed with Jiangsu Yangzijiang Offshore Engineering Co., Ltd, owned 78% by Yangzijiang, by Explorer I, a wholly owned subsidiary of Mena Offshore Investments.
The contract is to build a Letourneau Super 116E Class design jack-up rig, with an option for a second unit. It is due to be delivered by second quarter 2015.
“This is definitely exhilarating news for the Group as it sets the group firmly on its direction into the Oil and Gas space. The rig will be constructed in our existing shipyard, JNYS in China, which allows the Group to leverage off its existing world class vessel building capabilities,” said Ren Yuanlin, chairman of Yangzijiang.
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