FG Press Release_2013 04 10

4/10/2013 12:00 AM

Announces New License Agreements for Two JU-2000E Jackups

HOUSTON, Apr 10 / -- Friede & Goldman, Ltd. (F&G) announced today that China Merchant Heavy Industry (Shenzhen) has exercised its fixed price options for the basic design of two additional JU-2000E high-specification jackup drilling rigs to be constructed for Landmark Drilling. The new units are scheduled for delivery in the third and fourth quarter of 2015. This contract marks the 1at & 2nd JU-2000E delivered by or under construction at CMHI and the 1st & 2nd JU-2000E drilling rig constructed for Landmark Drilling.

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 CMHI to supply their patented Rack Chock leg fixation system.

Friede & Goldman currently has 35 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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