COSCO to expand rig-building capacity

COSCO has signed an agreement with the Jiangsu Qidong municipal government to expand its rig-building capacity. The new yard will be located at the entrance of the Yangtze River and will cover an area of two million square metres. The yard will focus on offshore projects, including the construction of oil and gas related equipment including semi-submersible rigs, jack-up rigs and other floaters. Development work on the yard will be carried out in four phases with the first phase scheduled for completion in about a year.

The new yard is expected to have an offshore drydock, two slipways, eight berths and will be able to handle about six different kinds of rigs annually.