Singapore-based YHM Group has said it has won a contract worth about US$183 million over a three-year period to provide a semi- submersible rig.
The rig is to be used by a south east Asia-based national oil company to support oil and gas activities in the Andaman Sea.
The company is in the process of forming a joint venture company to own the semisubmersible, which will be upgraded and refurbished and is expected to be deployed in the Andaman Sea between end 2013 and early 2014.
The contract includes a two year extension option.
The Andaman Sea is a marginal sea of the north eastern Indian Ocean, bounded by Myanmar, Thailand, Malaysia and the Bay of Bengal.