Energy Drilling acquires rights to two newbuild rigs

Energy Drilling Management Pte. Ltd. has announced the signing of a Memorandum of Understanding with China Merchants Industry Holdings Co. Ltd. (CMIH), thereby acquiring exclusive marketing and operating rights to two premium newbuild drilling rigs.

Energy Drilling’s CEO, Marcus Chew, explained “Despite the weak outlook for the offshore market, we are constantly on the lookout for opportunities to grow the company and to create exciting opportunities for all employees to grow with us. By acquiring the rights to market and operate newly built high spec rigs that have been abandoned in shipyards allows Energy Drilling to embark on our “capital light” strategy.”

The first unit is a tender assist barge rig designated as Hull No. CMHI (JS)-151-1 which was delivered for development drilling in South East Asia and West Africa in 2016. It is a high specification, quality build that is fully commissioned and ready for mobilisation upon short notice. The second unit is a three-legged cantilever type jack-up drilling rig from Gusto CJ46-X100-D, and it is intended for use in water depths up to 350ft. in a moderate environment.