Background

North Sea Rigs

North Sea Rigs AS (“NSRAS”) provides a unique framework to manage the building of rigs and vessels in China on behalf of Owners at competitive prices. NSRAS can provide a complete project management service and through its agreements with financial institutions can assist in sourcing equity and debt finance if required. NSRAS provides a complete management solution including site construction management and technical support in China. NSRAS will assist the Owners in marketing the vessels in Europe and North America. NSRAS had three original investors, Mancorp AS, Innovative Design Solutions AS and Landmark Holdings Ltd that have now been joined by a fourth investor which is the largest shareholder.