Shares jump as Creon agrees deal to build jack-up
Resources infrastructure investment company Creon has cheered investors with the news that it has entered into a contract with Explorer 1 to construct and deliver one unit of a self-elevating mobile offshore jack-up drilling rig.
Resources infrastructure investment company Creon has cheered investors with the news that it has entered into a contract with Explorer 1 to construct and deliver one unit of a self-elevating mobile offshore jack-up drilling rig.
Under the the $170m deal, Jiangsu Yangzijiang Offshore Engineering Co., in which Creon's 46.45% owned joint venture has a 40% stake, will build a 'Le Tourneau Super 116E Class' design rig capable of drilling to 30,000 feet in sea depths of up to 350 feet. It will be fully equipped with state of the art drilling equipment and accommodation for 120 people.
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