According to Honghua, the rig deal, worth $320 million, was signed by its offshore outfit Honghua Offshore Oil & Gas Equipment Jiangsu Company in eastern China’s Jiangsu province.
“Signing the letter of award symbolises that the company has started a new chapter of its manufacturing business, and successfully entered into the offshore drilling equipment market,” Honghua chairman Zhang Mi said.
The delivery of the first rig is scheduled 30 months after the contract is finalised, which should happen within 60 days after the letter of award was issued in mid- August, sources said.
