On August 21, 2015, TSC Group Holdings Limited Company (“TSC”) subsidiary EMER International Limited (“EMER”) secured three contracts to provide a second R-550D jack-up drilling package, control & drive package and three offshore deck cranes to CSSC Huangpu Wenchong Shipbuilding Company Limited (“HPWS”), which is scheduled to be delivered at the end of 2017. The contract successfully marks the first milestone in the build of the second R-550D jack-up, and follows TSC subsidiary, Alliance Offshore Drilling’s (AOD) announcement that it exercised options to build two additional R-550D rigs in June. Moreover, the signing comes after the continued positive market response and excellent foundation established during the AOD1 construction, which is currently in the installation and commissioning phase.

The R-550D is a Zentech designed, high-specification ABS classed mobile offshore jack-up drilling unit, capable of operating in water depths of up to 400 feet. The rig features an extended cantilever reach, zero discharge, high capacity drilling systems and high performance features which were optimized to increase both safety and efficiency. The R-550D is compatible with most existing rig footprints but has bigger spud cans and higher leg strengths which tailor the rig to suit the requirements of most major drilling locations.

The signing of the jack-up drilling package contracts builds on the successful strategic cooperation established between TSC and HPWS in 2012. Over the past three years, TSC and HPWS have leveraged mutual strengths to provide a cost competitive and highly efficient jack-up rig amongst the prevailing oil price and the supply situation. TSC looks to continue on this strong foundation to ensure that the additional R-550D rigs are delivered safely, on time and on budget.