Zhenhua builds first drilling rig
By Feng Jianmin |
July 7, 2011, Thursday
|
Print Edition
Print Edition
SHANGHAI-BASED Zhenhua Port Machinery Co started work on its first drilling rig yesterday as part of an expansion drive in its offshore machinery product line.
The 300-foot jack-up drilling rig, named Zhenhai No.1, is expected to be completed by February 2013, and is designed for extracting oil and gas from sea beds 60 to 70 meters deep. "Our efforts in building advanced drilling platforms mark our contribution to the localized production of drilling facilities," said Kang Xuezeng, president of ZPMC.
The basic rig design was drawn up by F&G, a US-based designer and service provider for drilling platforms acquired by ZPMC's parent China Communications Construction Co in 2010 for US$125 million. Detailed drafts will be completed by the domestic technical team, according to Liu Zhen, manager of the project.
Fu Caixia, an analyst with China Minzu Securities, said 70 percent of the 150 operating drilling platforms in China by the end of 2010 were imported, but many Chinese shipping companies are starting to assemble drilling facilities, and an increasing number is focusing on localized production.
The 300-foot jack-up drilling rig, named Zhenhai No.1, is expected to be completed by February 2013, and is designed for extracting oil and gas from sea beds 60 to 70 meters deep. "Our efforts in building advanced drilling platforms mark our contribution to the localized production of drilling facilities," said Kang Xuezeng, president of ZPMC.
The basic rig design was drawn up by F&G, a US-based designer and service provider for drilling platforms acquired by ZPMC's parent China Communications Construction Co in 2010 for US$125 million. Detailed drafts will be completed by the domestic technical team, according to Liu Zhen, manager of the project.
Fu Caixia, an analyst with China Minzu Securities, said 70 percent of the 150 operating drilling platforms in China by the end of 2010 were imported, but many Chinese shipping companies are starting to assemble drilling facilities, and an increasing number is focusing on localized production.
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