UAE-based Maritime Industrial Services Company (MIS) has clinched rig-building contracts worth $335 million from Mosvold Middle East Jackup (MEJU) for the detail design and construction of two offshore jack-up drilling rigs for the company.

With this win, MIS is now positioned with a mid-2008 confirmed order backlog of $480 million, an increase of $110 million on its firm backlog at this time last year, excluding the two Orion rigs subsequently deleted from backlog, said a MIS official.

The two firm rigs (Hull 106 and Hull 108), will be supplied by MIS on a turnkey basis and will be built at MIS’ shipyard in Sharjah.
 
MIS is a Panamanian-registered company with its major fabrication base and shipyard in Sharjah and has 5,000 employees. The company was founded in 1979 and has 29 years of profitable operating history.

“Our strong relationship with MIS continues with this new contract. With their reputation as a professional yard and their performance on the first two rigs, our decision to build at MIS was made easier,” said Roy Mosvold, chairman of MEJU.

“The Middle East is the fastest growing jack-up market and we look forward to further developing our relationship with MIS as together we address the demand for more new rigs in this market,” Mosvold added.

Expressing delight at the repeat order from Mosvold, Jerry Smith, MIS managing director, said it was an important order to further cement MIS’ position as the offshore jack-up rig builder of choice in the Middle East.

“We expect the interest in our new-build programme to continue over the next few years and we are continually looking for opportunities to expand our yard facilities by seeking out ideal locations in the UAE,” he added.

The two rigs, Hulls 106 and 108, are a Friede and Goldman (F&G) Super Mod 2 design with 30,000 foot rated drilling depth and an operating water depth capability of 300 feet and with accommodation for 110 people on each rig.-TradeArabia News Service