Indonesian independent Medco Energi has concluded a deal with China Oilfield Services Ltd (COSL) to charter a new semi-submersible drilling rig as part of a commitment to the fast-track development of its offshore Indonesia discoveries.

The deal between Medco and COSL involves the deep-water drilling rig Shen Lan Tan Suo (Deepblue Explorer), well-placed sources in the drilling market told Upstream.

It is not clear how many wells the rig will drill for Medco, although sources said the campaign will last around 300 days starting in September.