China Rongsheng Heavy Industries Group Holdings Limited ("China Rongsheng Heavy Industries" or the "Group"; stock code: 01101.HK) is pleased to announce it has secured its first 1+1 jack-up rig EPC contract, from a Singaporean customer. With sound developments made in the high-end offshore equipment manufacturing field, China Rongsheng Heavy Industries has now achieved breakthrough in the international offshore rig market. The Group will accelerate its growth into the high-end offshore equipment manufacturing field and develop as a world-class offshore engineering service provider.
China Rongsheng Heavy Industries is delighted to receive our first jack-up rig order, which demonstrates the recognition received by the Group in the international shipbuilding and offshore engineering industries. 2013 is the breakthrough year for offshore engineering business of China Rongsheng Heavy Industries. We will strive to secure more orders and achieve significant progress of our transformation and advancement strategy towards high-end offshore equipment manufacturing industry.
Representing the high-tech and high value-added engineering apparatus in deepwater oil exploitation, the 1+1 CJ46 jack-up rig, including one confirmed order and one option, is used as exploratory drilling platform for oil and natural gas. It measures 65.25 meters in length overall, 62 meters in breath overall and 8 meters in depth of hull. With a maximum working water depth of 112 meters and drilling depth of 9,144 meters, the jack-up rig meets the global requirements of oil drilling operations in mild-temperature waters.
This project was signed in an EPC contract (covering Engineering, Procurement, and Construction), with Rongsheng Offshore & Marine Private Limited ("Rongsheng Offshore & Marine") and Jiangsu Rongsheng Heavy Industries Company Limited ("Jiangsu Rongsheng Heavy Industries") jointly responsible for. China Rongsheng Heavy Industries is one of the few shipbuilders in China capable of undertaking an EPC project, and the winning of this tender barge highlights the technological and manufacturing strength of China Rongsheng Heavy Industries in the offshore engineering field.
Rongsheng Offshore & Marine, a wholly-owned subsidiary of China Rongsheng Heavy Industries and registered in Singapore, plays an important role in the Group's offshore engineering business and "transformation and advancement" strategy. Combined with the company's innovative operating model and our strong manufacturing base in Nantong of China, the Group has gained greater access to the global market and strengthened their presence in the high-end offshore engineering equipment field. China Rongsheng Heavy Industries are confident in building the Group into a world-class offshore engineering brand.