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Drydocks to Build Largest Jack-Up Rig for $730 Million

Drydocks World LLC, the Middle East’s biggest shipyard, agreed to build a $730 million “mega” oil rig for use in the North Sea as energy producers extend the search for reserves into harder-to-reach and more hostile areas.

Drydocks signed an accord with Drill One Capital to construct the Dubai Expo 2020 NS facility, which will be the world’s largest jack-up rig, Chairman Khamis Juma Buamim said today. The apparatus, to be delivered in 2017, will show “DDW’s capability to build world-first mega projects,” Drydocks said.