Dubai-based Drydocks World plans to deliver its North Sea rig platform by June, the firm’s chairman Khamis Juma Buamim said at the Mohammed bin Rashid al-Maktoum Business Award International Conference on 15 April.

The Dubai World unit, which provides services to the maritime, oil and gas, and energy sectors, signed a $730m agreement for the development of the mega jack-up rig in January. It will operate in the Norwegian and UK sectors of the North Sea.

“This is a critical project for us as it helps draw in innovators. We are also looking into opportunities in India,” said Buamim.

He added that the offshore wind power platform it was commissioned to create for Norwegian oil service company Aibel, to be part of the DolWin wind farm cluster in the German sector of the North Sea, will be ready in July or August this year.

“We will continue to sign contracts for the development of new technology and new platforms. And for Maritime City, we are determining how the cluster will look.”

The new contracts will help Drydocks World improve its finances, following the restructuring of $2.2bn-worth of debt in mid-2012.