Marine Log

April 4, 2006

Petrojack to sell rigs

Petrojack ASA says it has reached a conditional agreement to sell its ownership interest in the three jackup rigs that it has under construction in Sinapore for a total price of $600 million.

Awilco Offshore ASA and Sinvest ASA have reached an agreement to acquire the rigs on a 50/50 basis.