COSCO Corporation Secures Contract for 1 Self-Elevating Workover Unit

Source: www.gulfoilandgas.com 3/17/2016, Location: Asia

Cosco Corporation (Singapore) Limited (the Company) announced Wednesday that Cosco (Nantong) Shipyard Co., Ltd. (Cosco Nantong), a subsidiary of the Company’s 51 percent owned subsidiary, Cosco Shipyard Group Co., Ltd., has secured a construction contract from an Asian ship owner to build a Self-elevating Workover Unit with an option to build another similar unit. Cosco Nantong and the ship owner have agreed to keep the contract price confidential.

The unit is scheduled for delivery in the third quarter of 2017.

The option may be rendered effective by the ship owner at any time 4 months after but not later than 6 months of the construction contract.

Save for their respective shareholdings in the company, none of the directors or controlling shareholders of the Company has any interest, direct or indirect in the contract.

Barring any unforeseen circumstances, the contract is not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending Dec. 31, 2016.


Russia >>  5/12/2022 - Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij – subsidiaries of Shell plc – have signed an agreement to sell Shell Neft LL...
Russia >>  4/27/2022 - As of the end of the working day on April 26, Gazprom Export did not yet receive from Bulgaria's Bulgargaz and Poland's PGNiG payments for the gas sup...

Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.