Cooperation Agreement Signed with TSC and CSSC HPS
Cooperation Agreement Signed with TSC and CSSC HPS

January 04, 2013

Contact: Ravi Maini, Tel. 281-558-0290 (Mobile: 713-240-9102)

HOUSTON, TEXAS – Zentech, Inc. confirmed today its participation in a Strategic Cooperation Agreement for fully integrated jackup drilling rig construction.

Zentech joins China’s CSSC Guangzhou Huangpu Shipbuilding Company Ltd. and TSC Group Holdings, Ltd. in a new venture that involves the design of the basic rig and fully integrated drilling equipment and control package, and will be constructed at Huangpu Shipyard. The concept is centered on the patented Zentech R-550D, a high capacity and extended reach Jackup drilling rig, rated for 400 Ft. Water Depths.

This strategic cooperative program employs Zentech’s basic drilling rig design expertise for the R-550D, coupled with the TSC fully-integrated drilling and control systems package, all constructed at CSSC HPS in China.

The consortium expects construction of the first drilling rig to begin no later than May, 2013 and is already engaged in negotiations with undisclosed owners for the first unit, expected to be sold at highly competitive terms.

TSC Group Holdings, Ltd., is a global product and service provider, serving both onshore and offshore drilling industries worldwide. TSC’s comprehensive product lines include drilling equipment, mechanical handling equipment, solids control equipment, power control and drives, drill cabins, deck cranes, tensioning and compensation systems for semi-submersible rigs and drillships. TSC also provides jacking systems and rack materials for jack-up rigs. With its manufacturing facilities in China, the US, and the UK, TSC provides single- source designing, manufacturing and integrated equipment packages for all types of offshore drilling rigs.

CSSC HPS Huangpu Shipbuilding Company is a leading marine and naval shipyard in Quangzhou City and employs one of China’s most modern and technically competent shipbuilding capabilities, with a history dating to its origination in 1851. The company’s pedigree includes over 34 offshore oil and gas related vessel completions.

Zentech, Inc. is a Houston based marine engineering and naval architecture consulting firm specializing in the offshore oil and gas and renewable energy industries. The Company has more than thirty years experience in providing innovative engineering solutions, and employs a professional staff of over 160 in six international locations. Zentech’s expertise encompasses dynamically positioned Semi-submersibles, Drill-ships, Jack-up drilling units, Modular Platform drilling rigs, Barge rigs, Fixed offshore platforms, shipyards, floating production systems, risers and pipelines.

The company’s primary disciplines include structural engineering, naval architecture/marine engineering, mechanical and electrical engineering, as well as a wide range of proprietary engineering software for the offshore industry. Zentech has developed five state-of-the-art Jack-up and Semi-submersible drilling rigs, and wind farm support vessel designs. Zentech also owns two existing vessels, a Semi-SWATH and a Jack-up unit that are ideally suited to offshore wind farm installation work and currently available for charter.