Seatrium has signed an MOU with Cochin Shipyard (CSL) to jointly design and supply critical equipment for jack-up rigs for the latter's home market India.
According to a Nov 25 bourse filing by Seatrium, this partnership will tap CSL's "extensive experience" in ship-building, and also Seatrium's technical expertise and design capabilities.
"This partnership aims to capitalise on opportunities for mobile offshore drilling units specifically designed to meet the needs of the Indian market," says Seatrium.
Seatrium shares closed at $1.91 on Nov 22.
