(MENAFN) Northern Drilling Ltd (NODL) has declared that it will exercise its option to buy a semi-submersible rig, established by Hyundai Heavy Industries Co., for 40m USD.
The Bollsta Dolphin is one of the most sophisticated floaters in the world, with an operating capacity in harsh environments and in deep waters of up to 10,000 feet.
According to a statement by the Bermuda-based company, the rig is currently being constructed and expected to be delivered in January 2019.
NODL said: "The market for harsh environment capable rigs continues to show clear signs of improvement and stands out favorably in the drilling industry with higher utilization and better contract economics."
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