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PressReleases 
Articles Yantai Raffles Jack Up Drilling Rig Award
Thursday, February 4th, 2010
Yantai, China, 25th January 2010 - Yantai Raffles Offshore Limited, together with their Consortium partners, TSC Offshore China Ltd. and Momentum Engineering Ltd., are pleased to announce that they have been awarded a contract for the Lease and Management of one (1) Jack Up Drilling Rig by Dragon Oil (Turkmenistan) Ltd. Yantai Raffles Offshore Ltd. will carry out the Rig construction, TSC Offshore China Ltd. will provide all the Drilling and related equipment and Momentum Engineering Ltd. will be the Main Drilling Contractor and responsible for the Daily Operation, Management, Offshore Logistics and Maintenance of the Jack Up Rig(s) and Base Station. The rig is due to be delivered in the 4th Quarter of 2011.
The Friede & Goldman designed Super M2 Jack Up Drilling Rig can operate in water depths of up to 300 ft. with a drilling depth of 30,000 ft. and in all weather conditions in accordance with ABS assessment criteria.
Mr. Brian Chang, Deputy Chairman of Yantai Raffles Shipyard Ltd. said “We are delighted to have been awarded with this contract. It is our long term goal to become the number one Shipyard in the world for the construction of Jack Up Drilling Rigs. This contract has brought us one step closer to achieving our goal”.
About Dragon Oil
Dragon Oil is an independent oil development and production company whose shares are traded under a dual primary listing on the Irish and London Stock Exchanges. Dragon Oil headquarters and key management are situated in Dubai, United Arab Emirates (UAE). Dragon Oil operates oilfields in the Cheleken Contract Area offshore Turkmenistan in the Caspian Sea from its onshore base in Turkmenistan and has proved and probable oil reserves of 645 million barrels and 3.2 trillion cu. ft of gas resources.
About Yantai Raffles Offshore Limited
Yantai Raffles Offshore Ltd, a subsidiary of Yantai Raffles Shipyard Limited (CIMC, China International Marine Containers (Group) Co. Ltd., is the majority shareholder with 50.34% holdings), is the largest rig builder in China, with significant expertise and experience in the construction of various marine and offshore projects which include jack-up drilling rigs, semi-submersible drilling rigs, floating production storage and offloading vessels, heavy lift vessels, pipe lay vessels and other prototype vessels. Both innovative and scalable, Yantai Raffles is supported by a highly- skilled engineering force, cutting-edge facilities and superior technology.
About TSC Offshore China Ltd.
TSC OFFSHORE is one of the leading companies in the world providing offshore rig equipment, Rig Supplies and Complete Offshore Rig Packages. TSC OFFSHORE designs and manufactures rig equipment for onshore drilling rigs and for offshore rigs such as jack-up rigs, semi-submersible rigs, drill ships and production platforms. TSC OFFSHORE provides total solutions to rig owners, drilling contractors, ship yards and rig operators from drilling expendables and spares parts, to individual equipment all the way to its giant turn-key rig packages.
About Momentum Engineering Ltd.
Momentum Engineering Ltd is an Irish registered company with its Head Office in Dubai, regional office in Baku, Azerbaijan, and satellite offices in London, Houston, Turkey and Bangladesh. Momentum both owns and manages onshore and offshore drilling rigs, a crane/workover support barge, pipeline lay barge, and provides drilling, engineering, offshore construction and port management services.
