News Release


CIMC Raffles and Odfjell jointly win Neptune’s drilling service contract



On March 19, CIMC Raffles and Odfjell, a well-known drilling service contractor in Norway, jointly announced that Neptune awarded a drilling contract to “Deepsea Yantai”, including the confirmed lease for 6 drilling wells and optional lease for another 10 drilling wells.

At the same time, CIMC Raffles and Odfjell signed an agreement to further deepen their partnership, including CIMC Raffles would become the first choice for Odfjell’s new projects, and Odfjell will manage, operate and promote the “Deepsea Yantai” on behalf of CIMC Raffles within the agreement framework. The agreement also gave Odfjell the right of first refusal after the operating period expires. At the same time, CIMC Raffles and Odfjell reached agreement on sister platforms of “Deepsea Yantai” and would carry out joint promotion to a specific group of customers.

At present, “Deepsea Yantai” is under final commissioning and on a trial voyage at the Yantai Base of CIMC Raffles. The platform series adopts the GM4-D designs, and CIM Raffles owns 80% intellectual property rights of the platform. It is specially designed for the operation at Norwegian North Sea and equipped with highly efficient systems such as offline takeover system and wave compensation system, so it can withstand a 100-year return period storm and work in the adverse environment include the Arctic. “Deepsea Yantai” meets the certification requirement of Det Norske Veritas and meets the Norsok standards, the most stringent one in the world.

At the Norwegian North Sea, an important oil and gas production base in the world, 3 semi-submersible platforms designed and built by CIMC Raffles are working as excellently as expected, and they have won the best platform awards for a couple of times. After the “Deepsea Yantai” was awarded the operating contract by Neptune, CIMC has successfully delivered another semi-submersible platform to its customers at Norwegian North Sea.

As an independent international oil and natural gas exploration and production company, Neptune mainly operates businesses at Norwegian North Sea, North Africa and Southeast Asia and explores and produces oil and natural gas through safe, efficient and innovative operations.

Odfjell CEO Simen Lieungh said: “the signing of the agreement is a big move in our long-term development strategy. We will have a new and attractive platform that can work at sea areas with bad conditions and we even have the right of first refusal. The contract from Neptune has demonstrated that the platform is a necessary supplement to our fleet. With our specially developed technology for working normally at sea areas with bad conditions, it is believed that the platform will achieve remarking performance at Norwegian North Sea.”

“So far, we have designed and manufactured 7 semi-submersible platforms that meet the certification requirements of Norsok. Therefore, it is fair to say that among offshore engineering enterprises in China, CIMC Raffles understands Norsok most. The contract awarded by Neptune has proved that we can provide the most cutting-edge platforms for markets with the most rigorous standards and customers with the highest requirements. We are convinced that ‘Deepsea Yantai’ can meet customers’ expectations and deliver brilliant performance, and we are looking forward to working with more companies in different fields at Norwegian North Sea.”