Cosco Corporation (Singapore) said on Thursday its Cosco Shipyard Group unit has secured a contract to build two self erecting drilling tender barges worth around US$220 million ($275 million).
The deal with Singapore-based Energy Drilling, whose substantial owner is Norwegian venture capital firm Energy Ventures, contains an option for an additional two barges.
Cosco Shipyard, which is 51% owned by Cosco Singapore, expects to deliver the two barges in the second quarter of 2014.
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