Ultra Deep Water Rigs (D90)

MEPS acts as a financial advisor to its clients in the offshore industry, and arranges debts and equity financing through the international financial markets. This includes financing for the construction of Semi-Submersibles, Jack-ups, FPSO's, Supply Vessels, and other equipment related to the Offshore Industry.

MEPS and FOI have worked together over the past four years to negotiate turnkey packages with equipment suppliers to proceed with the building of the Frigstad Engineering Design 5th generation Ultra Deep Water semi-submersible Dual Ram Rig (D80 DRR DP3). In parallel with this, negotiations are at an advanced stage with shipyards capable of building at least one of these units. It is expected that construction will begin before the end of 2005, for delivery in 2008.