SHARE
(Image courtesy of DSME)

DSME signed the contract with Maersk Drilling for one Jack-up Rig, their first jack-up rig contract in nearly 30 years.

The value of this contract is approximately $530 million and is scheduled to be delivered in the middle of 2016. Once completed, the rig will provide service to Maersk on the Norwegian Coast.

It is able to drill down to a maximum of 12km in water up to 150m in depth and operate in the bad weather and intense cold of the North Sea.

DSME has stated they won this contract based on its construction experience in drilling facilities operated in the North Sea, and they hope that this contract will enable it to make further inroads into the Jack-up market.

This latest contract puts DSME’s 2013 secured orders at 40 vessels and offshore platforms worth approximately $10 billion and moved it closer to the year’s sales target, $13 billion.