COSCO to build semi-sub rig

COSCO Shipyard Group in China and Norway-based Maracc signed a contract for the building of GM 4000 semi-submersible unit. The contract, with a total value of $195 million, has fixed a completion period of 34 months. Currently, there are few shipyards in China which can build such type of platform and the construction of this project not only marks the entrance of COSCO Shipyard Group into the offshore market, but also indicates the growth of China’s overall shipbuilding industry.

The GM 4000 semi-submersible unit is a technical advanced platform with level 3 dynamic positioning system. It combines the functions of well intervention, light drilling and offshore construction. The technical and designing sophistication of GM 4000 unit as well as its offshore production capacity will be at advanced level in the international offshore rig market. The GM 4000 unit, upon delivery, will be operated in North Sea, where the sea environment is harsh.