Amedeo Resources’ (LON:AMED) associate Jiangsu Yangzijiang Offshore Engineering (YZJ Offshore) has completed its first oil rig, Explorer 1.
The rig, a self-elevating mobile offshore jack-up drilling rig now goes to testing, including to American Bureau of Shipping classifications, and commissioning.
This process should be completed during 2016.
Glen Lau, chief executive, said: "We are pleased that physical build of YZJ Offshore's first rig is complete.
“Following successful testing and commissioning, the rig will be delivered to the client.
“The physical completion of the first build is a key milestone from several perspectives, including in establishing the good reputation of a yard."
A joint venture with Yangzijiang Shipbuilding, Amedeo has a 19% stake in YZJ Offshore, which owns a yard in China.