Daewoo Shipbuilding & Marine Engineering will build a semi-submersible rig for Korea National Oil Corporation (KNOC) to be deployed in the Zhambyl oilfield, Kazakhstan.
Friede & Goldman will perform the front-end engineering design while a South Korean shipbuilder will carry out the detailed engineering work on the rig, according to upstreamonline.com.
Construction work will be carried out at a shipyard in the Caspian region with delivery expected in the second quarter of 2012.
KNOC's Panama-registered outfit, KC Kazakh Panama, will be the owner.
Transaction details have not been revealed.