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Sembcorp Marine bags US$240m job for new jack-up rig

Monday, November 3, 2014 - 08:05
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The Hakuryu-10, a proprietary Pacific Class 375 jack-up delivered by PPL Shipyard to Japan Drilling Co., Ltd in June 2008, is currently on charter to Total E&P in Indonesia.

SEMBCORP Marine has clinched a US$240 million contract to build a new jack-up drilling rig from repeat customer BOT Lease Co Ltd (BOTL), a leasing company of The Bank of Tokyo-Mitsubishi UFJ.

The contract for the new rig - the latest generation of high-specification jack-up righs - scheduled for delivery at the end of October 2016 and to be named Hakuryu 14, was secured by Sembcorp Marine's subsidiary PPL Shipyard.

The value of the contract may be higher depending on additional specification requirements to be negotiated.

The rig is capable of operating in deeper waters of 400 feet (121.9 metres) and drilling high pressure and high temperature wells to depths of 35,000 feet (10,670 metres) and will be built based on PPL Shipyard's proprietary Pacific Class 400 (PC 400) design.

This is the second jack-up rig that PPL Shipyard is building for BOTL with Japan Drilling Co Ltd (JDC) once again being the project coordinator and providing the project management team during the rig construction phase. The first unit, named Hakuryu 12, is currently under construction with contractual delivery at end-January 2015.

"The purchase of a further unit of the Pacific Class 400 rig will enable us to meet the strong demand from our customers for premium class jack up rigs and strengthen our position as a leading offshore drilling contractor," said Yuichiro Ichikawa, JDC president and representative director.

PPL Shipyard managing director Wong Teck Cheong said since the launch of the Pacific Class 400 series, 18 such jack-ups have been ordered with nine units delivered and operating in West Africa, Gulf of Thailand, South-east Asia, Qatar and the Middle East.