Frigstad Offshore orders $1.3bn semisub pair

Newbuild order: Frigstad's D90 design

Frigstad

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Bill Lehane

 11 January 2013 09:57 GMT

Frigstad Offshore has ordered two newbuild ultra deep-water semi submersibles from CIMC Raffles at a cost of $1.3 billion.

The Cyprus-registered, Singapore-based contractor has ordered the pair on turnkey contracts from the CIMC Raffles Yantai yard in China, with options for another four units.

Frigstad Offshore chief executive Simen Skaare Eriksen said the order was a further step on the company’s road to becoming “a leading operator of ultra deepwater drilling units at the very top end of this highly attractive market segment”.

Eriksen said he had full confidence in the yard’s capabilities, adding that “after the CIMC Group’s takeover of the Yantai Raffles yard, we have seen considerable improvements to infrastructure…

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