Cosco unit wins $275m drilling barge contract

Cosco Corporation has won a US$220 million ($275 million) deal to construct two units of self-erecting drilling tender barges.

The contract was awarded by Energy Drilling, a Singapore-based subsidiary owned by Norwegian group Energy Ventures, to Cosco’s subsidiary Cosco Shipyard Group Co.

The contract, which is expected to be delivered in the second quarter of 2014, comes with an option for an additional two barges.