On the 16th of September 2013, Caspian Shipyard Company (CSC) signed contract with Baku Shipyard LLC for undertaking fabrication of the pontoons and upper blocks for the construction of a semisubmersible drilling rig.
The $800 million semi-submersible drilling rig was awarded by Caspian Drilling Company (CDC) to two subsidiaries of Keppel offshore & Marine Company with Caspian Rigbuilders and Caspian Shipyard Company (CSC).
The DSS 38M rig is a Keppel design for a drilling depth of up to 40,000 ft (12,192 m) and operations in 1,000 m (3,280 ft) water depth. To withstand high winds speeds in the Caspian Sea. An 800-m (2,625-ft) self-contained eight-point mooring system will to be installed. Delivery is scheduled for late 2016.