Viking Offshore & Marine Limited would participate in the ownership of a second cantilever drilling jack-up rig, further strengthening its partnership with Singapore rig veteran, Mr Chan Kwan Bian ('Mr Chan') as it accelerates its entry into mainstream offshore rig chartering.

SGX Catalist-listed Viking said its wholly-owned Viking Asset Management Pte. Ltd. ('VAM') will invest US$5.4 million to take a 30%-stake in Quick Booms Investments Limited ('QBI'), a special purpose vehicle controlled by Mr Chan which has a contract with a yard to build the CJ46-X100-D GustoMSC designed for use in water depth up to 375 feet and can accommodate 120 men during operation.

Tags: Viking Offshore & Marine Limited