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(Image courtesy of Cosco Dalian)

Singapore-listed Cosco Corporation reported  that Cosco (Dalian) Shipyard has secured a $184 million contract from Derwent Ocean.

The contract is to build one LeTourneau Super 116E Class jackup rigs.

The jackup, which will be built to ABS classification, with notation A1, will be a self elevating drilling unit capable of drilling HPHT wells.

According to Cosco, the jackup will be equipped to drill to depths of up to 30,000 feet.

Delivery is scheduled for the third quarter of 2016.