Hong Kong-listed TSC Offshore Group has landed a framework deal to provide drilling equipment for rigs being built at the Yantai Raffles Shipyard in China
TSC said in a statement it had signed a two-year master agreement to provide its drilling products to the shipyard. The deal is expected to be worth up to 589 million yuan in 2008 and 1.03 billion yuan in 2009. TSC said individual sales would be handled between its various subsidiaries and Yantai under the terms and conditions laid out in the master agreement. TSC units supply drilling control systems, mud-pumps, oilfield supplies and other equipment.Read More
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