Sembcorp Marine's PPL Shipyard books order for Pacific Class 400 jack-up

pacific400Perisai (L) Inc., a subsidiary of Malaysia's Perisai Petroleum Teknologi Bhd, has awarded Sembcorp Marine's PPL Shipyard subsidiary a US$208 million contract to construct a Pacific Class 400 jack-up drilling rig for July 2014 delivery. The contract includes an option to build an additional jack-up of a similar specification jack-up rig for delivery in the second quarter of 2015 for US$210 million \.

The Pacific Class 400 jack-up drilling rig is PPL Shipyard's proprietary design and is an enhanced version of the successful Pacific Class 375 design series, 27 of which are now operating worldwide.

The Pacific Class 400 rig is one the latest generation of high-specification jack-ups capable of operating in water depths of 400 feet and drilling to depths of 30,000 feet. The rig's maximum drill center is cantilevered at 75 feet aft and it has a derrick hook load capacity of 1,500,000 lb. The rig is equipped with full hotel services for a complement of 150 men on board in one-man and two-men cabins.

Dr. Benety Chang, Deputy Chairman of PPL Shipyard said "We are very pleased that Perisai has chosen the Pacific Class 400 design as its maiden jack-up drilling rig design. We have complemented several companies in growing their rig fleet and in expanding their business into the offshore oil and gas sector. We hope to contribute to our partners' long-term success and sustainable growth in the industry."

"This unit represents the eighth unit of the Pacific Class 400 series since the launch in 2010," said En. Izzet Ishak, Managing Director of Perisai Petroleum Teknologi Bhd. "The construction of the jack-up drilling rig represents a significant moment for the Perisai Group. We are excited by this new class of asset as it represents our entry into the offshore drilling segment specifically in Malaysia and broadly in the Asia Pacific region. This construction will provide our customers with access to a technologically advanced latest generation drilling rig. The rig's high specification matches industry best standards with regard to, among others, water and drilling depths and load handling capacity of drill pipes. This, together with the extensive and illustrious history of PPL Shipyard, provides Perisai with added confidence as it enters into this new and exciting segment of operations."

May 8, 2012

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