22nd Apr 2014 12:17
LONDON (Alliance News) - Amedeo Resources PLC Tuesday said the keel of its first rig order, the 350 foot Le Tourneau Super Enhanced 116e, has been laid on schedule.
The resource, infrastructure and asset investment company, said this is a significant step in the building of the new rig, which involved constructing a 500 tonne hull and placing it on the skidway of the Jiangsu Yangzijiang Offshore Engineering Co Ltd, a new rig yard in Taicang, near Shanghai.
Amedeo has an indirect 18.6% stake in Jiangsu.
The firm said the laying of the keel on schedule demonstrates Jiangsu's ability to construct rigs on schedule and that the new rig yard is now operational. The yard's completion is on schedule for the middle of this year, Amedeo said.
The stock was trading at 1.01 pence Tuesday, up 0.01 pence or 1.5%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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