Daewoo Shipbuilding & Marine Engineering signed newbuilding contract for one semi-submersible rig, ordered from Odfjell of Norway.
The semi-submersible rig, ordered already in December 2011, was firmly contracted on 18 January after specific adjustments.
The rig, totalling $620m, would be constructed at Okpo yard and delivered by mid 2014.
Odfjell's rig, 119m in length and 97m in breadth, can operate up to 10,000m underwater.
Equipped with high-end Dynamic Positioning System, which is made up with GPS system, computerized thruster controlling system, eight thrusters, etc., the rig can well position itself amid harsh environment. Also, winterization technology was applied.
Meanwhile, Odfjell has ordered a total of three semi-submersible rigs at Daewoo, including the recent one, and builds up a long-term partnership with the South Korean shipbuilder.
Daewoo said, "Daewoo leads semi-submersible rig market, by having inked overall 24 units and delivered 18 so far."