KS Drilling further stalls jack-up rig delivery

Singapore’s offshore driller KS Drilling and China’s rig builder COSCO Nantong have agreed to further postpone the delivery date for a jack-up drilling rig by two more years. 

KS Drilling entered the contract with COSCO Nantong to build two jack-up drilling rigs based on the LeTourneau Workhorse Class design in May 2011. The first rig was delivered in 2014 but the driller and the builder have been stalling with the delivery of the second one for a while now.

Following the expiry of the latest option, COSCO said on Friday that, in light of current unfavorable market conditions and the spirit of the partnership between the parties, the Owner and the shipyard have mutually agreed to further extend, by way of a further amendment agreement, the time for delivery of the undelivered rig bearing hull number N408, which is ready for delivery.

The extension is from December 31, 2017 until December 31, 2019, based on mutually agreed terms and conditions. The rig builder added that either party remains entitled to sell the rig to a third party.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2017 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Offshore Energy 2017

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event…

read more >

03rd OIL & GAS TANZANIA 2017

After a successful Oil & Gas Exhibition in 2016, Expogroup is all set for the 6th OIL & GAS AFRICA 2017…

read more >

Technology Forum (30th Offshore Licensing Round)

The event will bring operators, prospective investors and technology developers together and will cover technology areas that are critical…

read more >

SPE Offshore Europe 2017

Attending SPE Offshore Europe, recognised by offshore E&P professionals as Europe’s leading E&P exhibition and conference, will ensure you…

read more >

Jobs>

Electrician

For one of our clients we are looking for a Ships Electrician. Our client is a company with worldwide activities. You will work in a rotation of 4 till 6 weeks on and off.

apply

QC Coordinator Offshore

Do you attach great importance to quality and do you have an affinity with offshore projects? Then read about what Van Oord can offer you.

apply

Assistant Driller

Maersk Drilling Norge AS was established in 1990 and employs a staff of approximately 1000 people.

apply