A Chinese-led joint venture is set to unveil an order for a jack-up rig with what it claims is the world’s longest cantilever as it chases plug-and-abandon (P&A) and decommissioning work, with the harsh environment and North Sea sectors in its crosshairs.
Offshore Innovation Management (OIM) - formed in late 2016 by Hong Kong-listed TSC Group and Offshore CC FZE (OCC FZE) - is set to unveil the order for the BT-400PAU-design unit at CIMC Raffles in China, with first steel set to be cut early next year and delivery seen in 2020.
