Recent Investments

Frigstad Offshore exited from its investment in two 7th generation ultra deepwater drilling units in December 2016.

Frigstad Deepwater Ltd was incorporated by the Frigstad Group in 2011 to build and operate a fleet of semi-submersible drilling rigs with superior flexibility and efficiency. After securing joint funding from Chinese investors,  the company placed an order for two units of the Frigstad D90TM design at the CIMC Raffles yard in China in December 2012 with a total project cost of around USD 1.3 billion.

Frigstad Offshore managed the construction, marketing and preparations for operations for the two rigs named “Frigstad Shekou” and “Frigstad Kristiansand”. In August 2016, a drilling contract was secured for the first rig with CPOE for operations in the South China Sea. Shortly after, the Frigstad Group agreed to sell its 25.1% shareholding in Frigstad Deepwater Ltd to its Chinese partner.

Frigstad Shekou

Type: Ultra deepwater semi-submersible
Location: Yantai China
Availability: Q1 2017
Maximum depth: 12,000 ft

Frigstad Shekou was the first unit of the two D90 drilling units constructed at CIMC Raffles in Yantai China by Frigstad Deepwater Ltd. Being equipped with the latest and largest NOV drilling package, the rig is to serve the ultra deepwater marked in some of the worlds most challenging marine area's. The unit is purpose built for exploration & development drilling in area's like Brazil, Gulf of Mexico, West Africa and South China sea. The rig is now named “Bluewhale 1” and has completed its first drilling campaign in South China Sea.

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Frigstad Kristiansand

Type: Ultra deepwater semi-submersible
Location: Norway
Availability: Q3 2017
Maximum depth: 12,000 ft

Frigstad Kristiansand was the second unit of the two D90 drilling units currently constructed at CIMC Raffles in Yantai China by Frigstad Deepwater Ltd. The rig is now named “Bluewhale 2” and will be completed by end of 2017.

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