Sembcorp Marine marches off with $4 billion drillship order

Sembcorp paradeAUGUST 8, 2012 — Sembcorp Marine reports that its Jurong Offshore unit has booked contracts worth approximately $4 billion from Sete Brasil for the design and construction of five drillships. The ships will be built in Brazil at Jurong Shipyard, Aracruz, and will be based on Jurong Shipyard's proprietary Jurong Espadon drillship design. That brings the total number of drillships of this design to six. Jurong Aracruz secured a $792.5 million contract back in February for the desiign and construction of a drillship with Guarapari Drilling B.V., Netherlands, a subsidiary of Sete Brasil.

The Jurong Espadon design is a next generation high-spec drillship with advanced capabilities for operational efficiency and ultra-deepwater operations worldwide. Each of the drillships will be equipped with state-of-the-art drilling facilities, a larger deck a area, efficient deck arrangement and a large moon pool for enhanced drilling operations as well as DP-3 capabilities and superior motion. The drillship will be capable of operating at 10,000 ft water depth and drilling to depths of 40,000 ft. They will provide accommodations for a crew of 180 personnel.

Scheduled for deliveries betwween 2Q 2015 to 2Q 2019, the six drillshhips will be among the first in a series of drillships to be built in Brazil for thegiant pre-saltfields of the Santo s Basin. On delivery the six drillships will be chartered to Petrobras for 15 years. Three will be operated by Odfjell and three by Seadrill.

Mr. Jose Carlos Ferraz, CEO of Sete Brasil said "We are pleased to sign the contracts for the dwsign and construction of the five additional drillships with the Sembcorp Marine Group. With their established track record working in Brazil, we are confident that the high pecification drillships will be deliveredd on time and on quality. We are counting on Jurong Shipyard to be a vital partner in making the drillship program a success for our coompany and our country."

Mr. Wong Weng Sun, President and CEO of Sembcorp Marine said "We are honored to be awarded this prestigious parcel of five drillships from Sete Brasil. Including the one unit of drillship that was announced earlier, we will be building a total of six drillships for Brazil's deepwater oil fields. We like to thank Sete Brasil for their continued confidence in our design and capabilities and for selecting us to be a key partner to spearhead Brazil's drillship building program. The series of orders will also provide greater impetus for us to accelerate our shipyard building program in Brazil."

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