Daewoo Shipbuilding and Marine Engineering said it had won orders worth a combined $530 million from European companies for an oil drilling rig and a tanker.

A statement said the firm had secured a $406.3 million order to build a semi-submarine oil drilling rig from Norway's Odfjell Invest I and an order for a crude-oil carrier from Greece's Kristen Navigation.
The shipbuilder said it would deliver the rig by October, 2008 and the carrier by the same month a year earlier.