China Takes Possession of Highly Advanced Deep Water Submersible -- Not a Bakken Story

This is truly incredible. While the US shuts down activity in the Gulf of Mexico, China just keeps moving along. The moratorium has been lifted, but the gulf, as far as new drilling activity is concerned, is dead.

Today it's being reported that China has taken possession of its first deep water submersible drilling rig, and this ain't just any submersible.

The platform is one of the most advanced deepwater semi-submersible drilling platforms ever built, equipped with DP3 dynamic positioning and anchor mooring positioning systems and an unmanned cabin design to be remotely controlled from the navigation and operating rooms.

According to Rigzone.com, this represents another milestone to China’s offshore industry in the offshore engineering arena, which is presently dominated by South Korea and Singapore.