Energy Drilling buys rights to two new rigs

Energy Drilling Management Pte. Ltd. has signed a memorandum of understanding with China Merchants Industry Holdings (CMIH), thereby acquiring exclusive marketing and operating rights to two premium newbuild drilling rigs.

Energy Drilling, a company from the HitecVision portfolio established to develop, build and operate self erecting tender rigs, said last week that the first unit is a tender assist barge rig designated as Hull No. CMHI (JS)-151-1.

It was delivered for development drilling in South East Asia and West Africa in 2016. It is a high specification build that is fully commissioned and ready for mobilization upon short notice, the company added.

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.

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.”

Energy Drilling’s VP Operation, Lyle Ewashen, commented “We welcome this opportunity to operate another new generation tender assist rig and look forward to putting it into active service as soon as possible. Even though we are a pure play tender assist service provider, we know jack-up rigs very well by competing against them for many years. The CJ46 is a unique unit and will offer an excellent opportunity for us to expand our line of services and expertise.”

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