30-06-08 Sembcorp Marine's Jurong Shipyard and Larsen Oil & Gas have started construction of a new $ 640 mm deepwater semi-submersible drilling rig for Petrolia Drilling.
The semi-submersible will be identical to the three PetroMena rigs, of Friede & Goldman Ex-D design, already being built at Jurong. The unit will be built under a turnkey contract, with Larsen Oil & Gas as construction manager.

Petrolia through a 100 % subsidiary has agreed to subscribe for 30 % of the shares in a new single purpose rig company registered on Cayman Island, making its estimated commitment around $ 50 mm. The remaining 70 % of the equity is already committed by a group of institutional investors arranged by Arctic Security.
The rig is scheduled for delivery 30 April 2011.