SBI drilling systems for China’s largest offshore rig

China Sunrise Group Co. Ltd. (“CSG”) has appointed Singapore’s SBI Offshore Limited as the lead contractor responsible for procurement of drilling equipment systems for a CS70 semi-submersible offshore rig.

Designed by Moss Maritime of Norway, the rig will be built in China. Guangzhou-based CSG, which will own the proposed rig, has entered into a memorandum of intent with SBI Offshore in relation to the exclusive appointment.

Intended for deployment in the North Sea (Norsok Compliance) at up to 3,600 meters water depth, the dual drilling semi-submersible will be the largest of its kind to be built in China to date, SBI Offshore has said. CSG has short-listed three state-owned shipyards in China to construct the rig.

Work is expected to start in the first half of 2015 for completion in 42 months. SBI Offshore has signed technical agreements with two of the three short-listed yards and is expected to conclude a signed technical agreement with the third yard by mid-January 2015.

Upon appointment by CSG, the successful shipyard is expected to enter into an engineering, procurement and commissioning (“EPC”) agreement by the first half of 2015 with SBI Offshore regarding the drilling equipment systems DES package.

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