CIMC Raffles to deliver latest North Sea drilling rig

Assembly on the upper and lower hulls of a deep water semi-submersible drilling rig built by a Yantai marine equipment manufacturer is now complete, with the rig scheduled to be delivered in the third quarter of 2014.

Called the COSLProspector, it is the fourth of its kind made by Yantai CIMC Raffles Offshore Co, China's leading offshore engineering manufacturer and a subsidiary of China International Marine Containers Group, for delivery to COSL Drilling Europe AS, known as CDE.

Yu Ya, president of CIMC Raffles, said he believes the latest delivery will set new records in the Norwegian North Sea for COSL.