MIS Awarded $335M Contract To Build Two New Offshore Jack-up ...

Tag : industrial wire

DUBAI, United Arab Emirates--(BUSINESS WIRE)--UAE-based MaritimeIndustrial Services Co. Ltd. Inc. (OSE:MIS) continues the successin its new-build programme with the signing of rig-buildingcontracts worth US$335m for the detail design and construction oftwo offshore jack-up drilling rigs for Mosvold Middle East Jackup(MEJU).
With this award, MIS is now positioned with a mid-2008 confirmedorder backlog of US$480m, an increase of US$110m on its firmbacklog at this time last year, excluding the two Orion rigssubsequently deleted from backlog. The two firm rigs (Hull 106 andHull 108), will be supplied by MIS on a turnkey basis and will bebuilt at MIS' shipyard in Sharjah, UAE.
"Our strong relationship with MIS continues with this new contract.With their reputation as a professional yard and their performanceon the first two rigs, our decision to build at MIS was madeeasier," said Mr. Roy Mosvold, Chairman of MEJU. "The Middle Eastis the fastest growing jack-up market and we look forward tofurther developing our relationship with MIS as together we addressthe demand for more new rigs in this market."
Moreover, Jerry Smith, MIS Managing Director, said: "We are verypleased to receive this repeat order from Mosvold and we see it asan important one to further cement MIS' position as the offshorejack-up rig builder of choice in the Middle East." "We expect theinterest in our new-build programme to continue over the next fewyears and we are continually looking for opportunities to expandour yard facilities by seeking out ideal locations in the UAE,"said Smith.
The two rigs, Hulls 106 and 108, are a Friede and Goldman (F&G)Super Mod 2 design with 30,000 foot rated drilling depth and anoperating water depth capability of 300 feet and with accommodationfor 110 people on each rig.
Source: ME NewsWire.
About Maritime Industrial Services: MIS is a Panamanian registered company with its major fabricationbase and shipyard in Sharjah, UAE and has approx. 5,000 employees.The company was founded in 1979 and has 29 years of profitableoperating history.
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