GM4000 Lifting and Erecting Completed

2010-5-31

On 28th of May 2010, the semi-submersible drilling platform GM4000, being built by COSCO Nantong Shipyard, has been successfully erected by lifting the Deck box and skidding the two Pontoons. This erecting operation is the most key milestone of the project. The lifting weight of Deck box is more than 9,000 metric tons with a lifting height of 31 meters, and the skidding weight of each Pontoon complete with two Columns is above 5000 metric tons.

The process and technical innovation of this erecting operation set a precedent in China for future similar projects, and the platform became the first semi-submersible drilling platform domestically erected by using elevated tower. This erecting method reduced the working man-hour and construction cost dramatically and the lifting weight 9,000 tons also set a new record for construction of semi-submersible drilling platform. This historical moment was co-witnessed by the owner's representatives, shipyard management and the erecting operation team.

GM4000 is the world's most advanced deepwater semi-submersible drilling platform. COSCO Shipyard undertakes detail design, production design, procurement, construction and commissioning. The platform can provide the exploration drilling, production drilling and well intervention service for deepwater oilfield. The platform light-ship weight is over 23,000 tons, and has a number of design innovations and platform stability and strength are designed according to severe sea conditions, with high-powered thrusters and dynamic positioning system (DP3). The maximum water depth of intervention is up to 3,000 meters, and the maximum drilling depth is up to 8,000 meters, with a 4,000 tons variable deck load and 25 years design life. The detail design and construction are carried out in COSCO Shipyard. COSCO Shipyard has its intellectual property rights.

Since the project started, a series of major marine operations have been successfully achieved, including towing of two Pontoons from COSCO Zhoushan Shipyard to COSCO Qidong Offshore Base, loading-out and towing of Deck box from COSCO Nantong Shipyard to COSCO Qidong Offshore Base by a semi-submersible barge, launching of Deck box, docking of Deck box and Pontoons together. All of these operations created a record on magnitude and difficulty of marine operations and installation engineering for one single project.

The achievement of the successful erecting operation further tempered the COSCO offshore-building brand, and more importantly laid a solid foundation for the successful completion of the project.

COSCO Shipyard Group Co. Ltd.