The delivery for operation ceremony of the 300 ft jack-up rig " Wan Zuan 3 " (hereinafter referred to as WZ3), which is managed by Tianjin Kaisheng Offshore Equipment Leasing Co. Ltd, an Offshore Asset Management Company affiliated to CIMC group, was held at the CIMC Raffles shipyard last week.
WZ3 is with F&G SUPER M2 design and is capable of operating in a water depth of 300 ft and able to drill to a depth of 30,000 ft which will soon be heading to South China Sea for workover operation.
WZ3 marks the continuation of another successfully cooperation between COSL and CIMC Offhore Assets after several previous collaboration on offshore asset projects in domestic market. Both parties are seeking long term strategic cooperations in diversified business sectors as well.