UAE-based MIS Group (Maritime Industrial Services - OSE: MIS), a diversified engineering and contracting group focused on the energy sector, has received a final payment of US$ 17.1 million, following the delivery and acceptance of MENAdrill II (Hull 110) for its client MENAdrill Investment Company (MENAdrill), an oil and gas drilling services company launched in 2008 by Bahrain-based First Energy Bank.
MENAdrill II, which will depart from MIS’ Sharjah yard later this month, is the second rig to be delivered to MENAdrill following the delivery of Hull 109 (MENAdrill I) in November last year, and the fifth rig to be delivered by the MIS Group. Construction of the Friede& Goldman (F&G) designed Super M2 rig, was supervised by a team from GL Noble Denton on behalf of the owner.
“With five rigs now delivered and with four of those operational in different parts of the world, the MIS new build programme has gained an extensive level of expertise and firmly established its credentials in the construction of offshore jack-up drilling rigs,” commented MIS Managing Director, Kevin Hudson. “We are delighted to mark this milestone with the MENAdrill team.”
In related MIS new build news, MIS’ Hull 108 was loaded out last week to Dubai Dry Docks and will return to MIS’ Sharjah yard for finishing and commissioning. The rig is targeted for completion in 2011.
Source: MIS Group
Source: MIS Group
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