International Energy message: As Chinese shipbuilding enterprises, including COSCO Group, seek larger market shares in the global upsurge of deepwater exploration, China is becoming a powerful competitor of the traditional offshore oil rig manufacturing powers, Singapore and South Korea.

China began to manufacture the self-elevating drilling rig for shallow water drilling and the semi-submersible rig for deepwater oil-gas operation 7 years ago.

According to statistics, in the short 7 years, China acquired near one fifth of offshore oil rig orders totaling to USD 72 billion by attracting customers with favorable prices.

Over the past 7 years, China was ranked the top in the list of annual orders for twice at least. In 2009, China surpassed Singapore, the main manufacturing country of self-elevating drilling rigs. In 2006 and 2011, China preponderated over South Korea by the orders of semi-submersible rig.