Energy Drilling Management has signed a memorandum of understanding which will see the company acquiring exclusive marketing and operating rights to two newbuild drilling rigs.
The agreement was signed with Chinese firm China Merchants Industry Holdings.
Energy Drilling’s chief executive Marcus Chew said: “Despite the weak outlook for the offshore market, we are constantly on the lookout for opportunities to grow the company and to create exciting opportunities for all employees to grow with us.
“By acquiring the rights to market and operate newly built high spec rigs that have been abandoned in shipyards allows Energy Drilling to embark on our “capital light” strategy.”
The first unit is a tender assist barge rig designated as Hull No. CMHI (JS)-151-1 which was delivered for development drilling in South East Asia and West Africa in 2016.
The second unit is a three legged cantilever type jack up rig from Gusto which is intended for use in water depths up to 350 feet.
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