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SBI Offshore clinches rig contract from "Middle East-Chinese" consortium

Published on Aug 19, 2014 9:41 PM

SINGAPORE - Catalist-listed SBI Offshore has won a US$24 million (S$30 million) contract to provide design and engineering services for a jack-up drilling rig, it told the Singapore Exchange on Tuesday.

The contract was awarded by a "Middle East-Chinese consortium which comprises six parties that have varied interests in oil and gas activities", it said in a statement.

It did not name them.

The jack-up drilling rig will be designed for operating in the Middle East or Asia and will be able to operate in water depths of up to 110 meters.

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