Semi-subs for Daewoo

Daewoo Shipbuilding has captured a contact for two semi-submersible drilling rigs from Frigstad Offshore Drilling in Singapore at the price of $480 million.

They will be delivered on December 2008 and June 2009 and deployed at Palawan in the Philippines. Dynamic positioning system and mooring system will be installed enabling the drilling rigs to operate in both shallow and deep seas.