Chinese state-owned SinoOcean Offshore Assets Management Ltd is ramping up efforts to find employment for the Dalian Deepwater Developer (DDD), a drillship that has been stacked in China for over a decade.
Key Developments
The rig is being marketed for potential contracts in West Africa and South America, regions known for robust deepwater exploration activities.
Since its inception in 2019, SinoOcean has successfully chartered or sold 90% of the offshore units under its management, though some remain unfinished, with the DDD yet to secure a contract.
The lengthy stacking period poses challenges, including potential upgrades and inspections required to bring the rig to operational standards.
Opportunities in Target Regions
The region continues to attract significant offshore exploration, with countries like Nigeria, Angola, and Ghana leading the charge.
Brazil’s pre-salt basins and emerging plays in Guyana and Suriname offer fertile ground for deepwater drilling operations.
With global energy demands driving new offshore projects, SinoOcean is hopeful that the Dalian Deepwater Developer can soon be revitalized to contribute to the expanding deepwater drilling market.
