Rig: Bluewhale I

Rig Delivered

“Blue Whale One”, a semi-submersible drilling platform manufactured by Yantai CIMC Raffles Offshore Limited (CIMC Raffles), was named and delivered to the project owner at Yantai on February 13, 2017. Equipped with two drilling towers, the platform is the most advanced semi-submersible drilling platform on earth, breaking the world’s records for the operating depth and drilling depth. In the meantime, it is the first “turn-key project” completed by a Chinese shipbuilder in the ultra-deep water field, making it a milestone in the nation’s offshore engineering sector. The platform will be jointly operated by Blue Whale and CNPC Offshore Engineering Company Limited (CPOE) for ocean energy exploration according to a previously signed service agreement between the two sides.

New Build Delivery

On Feb 13th, “Bluewhale 1”, the most advanced ultra-deep-water semisubmersible drilling rig, built by Yantai CIMC Raffles Offshore Limted (referred to as “CIMC Raffles”), was named and delivered in Yantai. As the first turnkey project in Chinese offshore ultra deepwater field, “Bluewhale 1” will be operated by CPOE together with Bluewhale to carry out the offshore energy exploration.

Frigstad Offshore exits from investment

Frigstad Offshore exits from investment in Frigstad Deepwater newbuilds and positions itself for industry recovery Frigstad Deepwater Holding Ltd, a subsidiary of Frigstad Offshore Group, has decided to sell all of its shares in Frigstad Deepwater Ltd to a subsidiary of China International Maritime Containers Group (CIMC) with effect from 6 December 2016. Frigstad Deepwater Ltd, which has been jointly owned by Frigstad Offshore Group and CIMC since 2012, has two 7th generation ultra deepwater drilling units of the Frigstad D90™ design under construction at the Yantai CIMC Raffles shipyard in Shandong, China. The units, “Frigstad Shekou” and “Frigstad Kristiansand”, are scheduled for delivery in Q1-2017 and Q3-2017 respectively. As a consequence of the above, Frigstad Deepwater Ltd will become a wholly owned subsidiary of CIMC and be renamed “CIMC Bluewhale Rig Ltd”. The operational management of the rigs will be taken over by Bluewhale Offshore Pte Ltd, also a subsidiary of CIMC, and the rigs will be renamed “Bluewhale I” and Bluewhale II”. A team from Frigstad Offshore, the current manager of the rigs, will continue to supervise the construction of the two rigs until completion. Harald Frigstad, Chairman and founder of the Frigstad Group, says in a comment: “The ultra deepwater market has been extremely challenging for a while and we have agreed with CIMC that it is in the best interests of both parties that our group exit from the investment in Frigstad Deepwater Ltd at this moment. We are doing this on friendly terms and will remain a close partner of CIMC also in the future. Our exit from Frigstad Deepwater Ltd gives us a good foundation to position the Frigstad Group for the industry recovery which we believe will come. As part of this, we are reorganising the group and strengthening the organisation in key areas, which includes expansion at our office in Kristiansand, Norway. We are investing heavily in research and development, and will be launching the next generation of our ultra deep-water semi-submersible rig design in 2017 to keep up with industry requirements for new technology and higher efficiency. We strongly believe that offshore oil and gas will still play a very important role in the global energy supply for a long time, and we will be a part of this promising industry in the years to come, both as rig designer and drilling contractor.”

Frigstad Deepwater Rig Alpha; 60% Complete

CIMC Raffles shipyard (CIMC) has announced that construction of the Frigstad Deepwater Rig Alpha semisubmersible has reached 60% completion. CIMC is currently constructing the unit alongside its sister unit (Frigstad Deepwater Rig Bravo) at the Haiyang Shipyard, China. Both units are being built to the D90 semisubmersible design and are to be equipped with a dual RamRig and DP3 positioning system. Upon completion the Frigstad Deepwater Rig Alpha will be the world’s first seventh generation ultra-deepwater semisubmersible drilling rig

Frigstad Deepwater Orders US$1.3 Billion Rig Duo

Frigstad Deepwater has placed an order for the construction of two ultra-deepwater semi-submersible units from the CIMC Raffles yard in China for delivery in Q4 2015 and Q2 2016. The units will be based on Frigstad Engineering’s D90 rig design and will be able to operate in 12,000ft of water and drill down to 50,000ft making them only the second and third units globally designed to drill to these depths after the Scarabeo 9 semisubmersible rig. Frigstad Deepwater will operate the units, which have a combined construction price of US$1.3bn along with the option for the construction of four further identical units.