China’s first domestically produced drillship was completed and was named as Reignwood Opus Tiger 1 in Shanghai on November 8.

It is the first deep-sea drillship that all intellectual property rights are exclusively owned by China.

This vessel was constructed by Shanghai Shipyard of China State Shipbuilding Corporation (CSSC) and funded by the Chinese Reignwood Group, which has filled the gap that our country is in this field.

Liu Shaohua, vice-president of Reignwood Group, said the new drilling ship is suitable for oil and gas exploration in the areas of the South China Sea and the East China Sea. China seeks to break into the deep-sea drilling sector. So the vessel can be considered as a significant breakthrough for China in ocean engineering industry.

As for the cost of construction of each vessel, Mr.Liu Shaohua didn’t reveal to the reporter, but it is estimated at between $200m and $300m, reports say.

A second ship of the same standard is under construction, and another two will be built, Liu told press.