SINGAPORE -- COSCO Corp. (Singapore) Ltd. has secured a $356-million contract from KS Drilling Pte. Ltd. to build two jackup drilling rigs based on the LeTourneau Workhorse design.
The rigs are to have a drilling depth to 35,000 ft (1,668 m), be capable of work in 400 ft (122 m) water depth, and accommodate 150 crew. Each will have offline stand building and a 2 million pound capacity hook load.
The first rig is scheduled for delivery in 3Q 2013 and the second in 1Q 2014.
KS Drilling orders two jackups from COSCO