The is rig to be built based on the Friede & Goldman Ex-D Millennium dynamically positioned semisubmersible rig design. The firm said that it is presently negotiating a construction contract for such a rig with Jurong Shipyard (Jurong).
The rig is to be built for a water depth rating of 10,000 feet. The construction contract would be subject to satisfaction of certain conditions precedent which are required to be satisfied prior to July 30, 2008.
