Acquisition of ultra-deepwater drilling rigs in Singapore

We advised a leading offshore deepwater drilling company on the US$1.2 billion acquisition of two ultra-deepwater semi-submersible drilling rigs under construction at Jurong Shipard in Singapore, by way of corporate acquisition of the companies owning the drilling rigs which were to be delivered during Q1 and Q3 2011 respectively.   The project also involved the further acquisition of a Mexican company with a 5 year contract to the Pemex for one of the drilling rigs.   The rigs are based on a Moss Maritime CS50 MkII design with a high specification, and belong to a new generation of drilling units.