Keel Laying Ceremony for 'Alliance Driller 1'

On September 18th, 2014, CSSC Huangpu Wenchong Shipbuilding Company Limited (Huangpu Shipyard) successfully completed on time the keel laying milestone for the H6001 R-550D Zentech Jack Up rig (‘Alliance Driller 1’) for Alliance Offshore Drilling (AOD). The R550-D is a Zentech designed high performance jack-up drilling rig, capable of operating in a water depth of up to 400 feet (121.9 meters). Design features include a large extended reach cantilever, a zero discharge system, a high speed preloading system, a high pressure drilling system, a high volume storage system and many other features which increase safety and operating efficiency. The design has been approved by the American Bureau of Shipping (ABS). The R550-D rig successfully combines Huangpu Shipyards’ shipbuilding strengths with TSC’s integrated drilling package, project management, commissioning and service expertise. This cooperation will help raise a new generation and brand of high performance jack-up platforms in the offshore industry.

Prospector announces plan to sell 'Prospector 6'

Prospector Offshore Drilling S.A. (Prospector) released its results for Q3 2014 on the 12th November 2014. Within its results the company announced that its third newbuild jackup rig ‘Prospector 6’ is now classified as being held for sale. Prospector has yet to secure a contract for the newbuild jackup and rather than take delivery of an un-contracted unit, the company has decided to sell the asset in order to raise capital and not expose itself to new expenditure. The company has also signed a contract amendment with Shanghai Waigaoqiao Shipbuilding Co. Ltd (SWS) to push back delivery of the ‘Prospector 6’ by four months to Q1 2015.

Paragon Offshore delays delivery of 'Prospector 6'

Paragon Offshore Plc (“Paragon”) today announced that the company’s wholly-owned subsidiary has signed an agreement with Shanghai Waigaoqiao Shipbuilding Co., Ltd. to extend the delivery date of the high-specification Prospector 6 to April 15th. 2016. Under the terms of the agreement, no payments are due to the shipyard until the delivery date and upon completion of the delivery protocol.

Sale of Rig

Alliance Offshore Drilling Ltd, a wholly owned subsidiary of TSC Group Holdings Limited (TSC) has announced an agreement to sell the first of its two under construction jackup rigs. TSC has sold the jackup to Hong Kong Petrolor Oilfield Services Ltd (Petrolor), a Hong Kong based onshore drilling service provider who are looking to enter the offshore drilling market. Petrolor is expected to take delivery of the Zentech R-550D jackup from TSC on the 30th November 2015 after it has been delivered by the CSSC Guangzhou Huangpu Shipyard in China. The sale of the unit leaves TSC with one further Zentech designed rig under construction at the shipyard, which is also due to be delivered in 2015.

TSC’s First High Specification R-550D Jack-Up Rig Qualifies For Work In Indonesia

Recently, Alliance Offshore Drilling Pte Ltd.(“AOD”), a wholly owned subsidiary of TSC Group Holdings Limited (“TSC”), formally announced the “1+1” sales and purchase agreement with Harmoni Drilling Services Ltd (“HDS”) for the Zentech designed 400ft R-550D jack-up rig. An initial deposit has been received from HDS.The agreement with HDS replaces the sale to Petrolor previously announced on December 6th, 2013. The Rig is presently in the final stages of completion at the CSSC Huangpu Wenchong Shipbuilding Co Ltd (“HPWS”) shipyard in Guangzhou and will be well-primed for production in Indonesia by the second quarter of this year. The Rig has recently been successfully qualified and approved by the Directorate General of Sea Transportation and the Indonesian Classification Society - Biro Klasifikasi Indonesia. This paves the way for the Rig to be qualified for future operations in Indonesia at a competitive day-rate compared to non-Indonesian rigs.Through working with PT Harmoni Drilling Services, AOD is able to fulfill the mandatory local content factors required by the Indonesian Oil and Gas Authority, which is in line with the Indonesian Government pillar initiative of supporting growth of indigenous companies.

http://www.t-s-c.com/news/group-news/harmoni-victory-jack-up-named-one-of-two-indonesian-flagged-rigs/

Harmoni Victory (ZENTECH R-550D 400ft Jack-up Rig) was recently re-invited to bid in a formal tender for PHE ONWJ (Offshore North West Java in Indonesia) estimated term contract 1+1 year. While over 13 contractors are registered for pre-qualification, of which only two bidders passed the pre-qualification based on the justification of Cabotage Law (PM 200 Year 1015). It was re-tendered as there wasn’t enough quorum in initial round. In accordance with SKK MIGAS Regulation PTK-007, Operator can choose to directly select the bidder in the second round process. Notably, Harmoni Victory is one of these rigs, which presents a strong competitive advantage for securing future work in Indonesia. Harmoni Victory is also pursuing other tender opportunities to support Indonesia operators with a costs-efficient rig, operated by mainly local experienced rig crew. The Rig is the process of obtaining permits SIOPSUS from Ministry of Sea Transportation (DEPHUBLA) and have recently completed equipment worthiness inspection (SKPI) conducted by third party inspection team and witnessed by DITJEN MIGAS.

The World’s First R-550D Jack-Up Rig Is Successfully Delivered

On December 16th 2016, the Singapore based subsidiary of TSC Group Holdings Limited (“TSC”), Alliance Offshore Drilling Pte Ltd (“AOD”) has successfully taken delivery of the world’s first R-550D jack-up rig built by CSSC Huangpu Wenchong Shipbuilding Company Limited (“HPWS”) in Nansha District of Guangzhou. The historic milestone of the tri-party strategic cooperation between TSC, Zentech, Inc. (“Zentech”) and HPWS, achieves the reality of the initial blueprint and is set to significantly advance further into the future.