CIMC Raffles Semi-submersible Drilling Platform "Wonderland Yantai" Signed New Contract

Recently, the semi-submersible drilling platform "Wonderland Yantai" managed by the asset operation & management center under CIMC Raffles signed another contract for the operation of three wells with Neptune Energy, a mainstream oil and gas company from Norway. The platform planned to start operation in Fenja Oilfield in Norway's North Sea in 2021. In addition, the two sides agreed to increase the original 5 alternative wells to 10.

It was reported that CIMC Raffles, in cooperation with Norway's first-class drilling contractor Odfjell Drilling, obtained the "6+10" well drilling service contract of Neptune Energy in 2019, and further signed the contract of two additional alternative wells with "Wonderland Yantai" in the same year. After the lease of "Wonderland Yantai" took effect, drilling operations were carried out in Norway's North Sea, which is famous for the toughest offshore engineering environment in the world. The offer obtained by "Wonderland Yantai" created a precedent for domestic offshore engineering enterprises to provide service in the international high-end offshore engineering industry in the current period.

"Wonderland Yantai" semi-submersible drilling platform is a medium-deep water semi-submersible drilling platform built by CIMC Raffles. It is equipped with the DP3 dynamic positioning system and the automatic drilling control system, which are suitable for the harsh working environment in Norway's North Sea. CIMC Raffles cooperated with Odfjell Drilling to actively promote the normal performance of the lease contract, quickly solve the problems during the operation, and thus meet Neptune Energy's operation requirements for "Wonderland Yantai". As the Company strictly complied with the starting time of the lease, the operation is efficient and stable, and the average efficiency of the operation far exceeds expectations, it was highly praised by customers and partners and won the operation efficiency award.

As a pioneer of the Chinese offshore engineering enterprises, CIMC Raffles has taken the lead in the offshore engineering asset operation, product line innovation and industrial combination in recent years. Under the current complicated international economic situation and the downward trend of global trade caused by COVID-19, CIMC Raffles has always made concerted efforts with all partners to provide high-quality and efficient services to international customers and partners.