FG Press Release_2013 03 20

3/20/2013 12:00 AM

Announces New License Agreements for Two JU-2000E Jackups

HOUSTON, Mar 20 / -- Friede & Goldman, Ltd. (F&G) announced today that Dalian Shipbuilding Industry Offshore, Inc. (DSIC) has exercised its fixed price options for the basic design of two additional JU-2000E high-specification jackup drilling rigs to be constructed for Seadrill Limited. The new units are scheduled for delivery in the third and fourth quarter of 2015. This contract marks the 16th & 17th JU-2000E delivered by or under construction at DSIC and the 7th & 8th JU-2000E drilling rig constructed for Seadrill Limited.

The Friede & Goldman JU-2000E design represents the latest generation of high specification jackup drilling rigs with greater capacities and capabilities than most existing units. The rigs will have the capability to operate in water depths up to 400 feet and drill to depths of 30,000 feet. F&G has in addition signed contracts with DSIC to supply their patented Rack Chock leg fixation system.

Friede & Goldman currently has 32 F&G designed jackup rigs under construction at various shipyards around the world and continue to receive new interest in our designs for jackups and semisubmersibles. The JU-2000E units added to the worldwide fleet will be some of the most capable jackups in the world.

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