Construction has been completed on the PetroRig I, and the rig was ready for delivery to PetroRig I Pte Ltd, a wholly-owned subsidiary of PetroMena ASA, earlier this month. However, as final payment was not made to JSPL under the construction contract, JSPL has terminated the contract today.In accordance to its rights under the contract, Jurong Shipyard will proceed to sell the rig.PetroRig I is a sixth generation ultra-deepwater semisubmersible rig built based on the Friede & Goldman Ex-D design. The rig is capable of operating in 3,000 meters (9,842 ft) water depth and harsh environment drilling conditions and is also suitable for operations in most of the world's known challenging deepwater arena.
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