Oro Negro orders two more jack-ups at PPL Shipyard

Pacific Class 400 jack-upJULY 1, 2013 — Sembcorp Marine's PPL Shipyard, Singapore, has secured additional orders for two turnkey contracts, worth a combined US$417 million, from Mexico's Integradora de Servicios Petroleros Oro Negro, S.A.P.I. de C.V. Oro Negro. They call for the construction of two jack-up rigs for delivery at end July 2015 and end of third quarter 2015. They will be built based on PPL Shipyard's proprietary Pacific Class 400 design.

Including an earlier contracts of two identical jack-up rigs placed in November 2012 and another two similar rig units in March 2013 respectively, the total number of Pacific Class 400 jack-up rigs ordered by Oro Negro now stands at six.

The new rigs will be capable of operating in deeper waters of 400 feet and drilling high pressure and high temperature wells to depths of 30,000 feet. They will be equipped with increased accommodations with full catering facilities and amenities for a complement of 150 people on board in one-man and two-men cabins.

Mr. Gonzalo Gil, CEO of Oro Negro, said "We are very pleased to repeat our orders for an additional two jack-up rigs of similar design with our partner yard, PPL Shipyard. All four-jack-up rigs currently under construction in the shipyard are progressing well. With these two additional orders, we look forward to taking delivery of the first unit in the fourth quarter of this year, two units in 2014 and three units in
2015. Once fully operational, these high-specification jack-up rigs will position Oro Negro as a leading player in Mexico's growing offshore market."

Mr. Wong Teck Cheong, Managing Director of PPL Shipyard said "We are indeed heartened that Oro Negro has chosen our yard for an additional order of two more jack-up rigs of similar design within a short span of three months. This repeat order is a reflection of the optimism the owner has in the jack-up market. It also signifies the trust and confidence that the owner, Oro Negro, has in PPL Shipyard's design capabilities, its efficient project execution and track record for quality and timely deliveries."

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