SeaDragon Offshore Ltd, a new owner and operator of semi-submersible rigs
SeaDragon Offshore, a new owner and operator of semi-submersible rigs, announced in November 2006 that it has reached agreement with Tees Alliance Group to build the biggest drilling rig construction project to be undertaken in the UK for more than a generation. SeaDragon will build one of the world’s largest semi-submersible rigs with an option for two further rigs (“the Project”), with a combined value of circa $1.8 billion The Project will combine the project management skills of the SeaDragon management team, KCA DEUTAG (international drilling contractor and part of The Abbot Group plc), Moss Maritime (leading naval architects), and will utilize the Tees Alliance Group’s construction capacity. The project is backed by debt financing arranged by Lloyds TSB Bank plc The rigs will be constructed in Haverton Hill, Teesside, UK, with the first hull, at least, to be purchased from the Sevmarsh shipyard, Russia.
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