Chinese yard China Merchant Heavy Industry (CMHI) has received a new order — rare in today’s weak offshore market — from Singapore-based rig owner Upstream Drilling to build four semi-submersible tender assist drilling rigs, with options for two more units.
Sources said the contract value for each rig is close to $300 million including all equipment.
Construction is expected to take 32 months per rig at the company’s facilities in Haimen, eastern China.
