Singapore: Sembcorp’s PPL Shipyard Wins USD 213 Million Jack-up Rig Deal

Singapore - Sembcorp's PPL Shipyard Wins USD 213 Million Jack-up Rig Deal

Sembcorp Marine’s subsidiary PPL Shipyard has secured a US$213 million contract to build a Pacific Class 400 jack-up drilling rig.

The Pacific Class 400 jack-up drilling rig, a proprietary design of PPL Shipyard, represents the latest generation of high-specification jack-up drilling rigs that are capable of operating in water depths of 400 feet and drilling to depths of 35,000 feet. Equipped with technologically advanced drilling equipment, the rig is suitable for operations in most of the world’s challenging regions. The rig’s facilities include single room and double-room accommodation for 150 personnel with full hostelry services.

Dr Benety Chang, Deputy Chairman of PPL Shipyard said “We are pleased to participate in the development of Safin Gulf and its evolution into a leading rig-operating company. With the rig due for delivery in November 2012, Safin Gulf is expected to be successful in securing a charter contract for the rig.”

“We are pleased that Safin Gulf has chosen PPL Shipyard’s Pacific Class 400 design for their new rig fleet as part of their strategic expansion into the offshore business. The confidence in this design and its capabilities could lead to more of such orders for our proprietary design just as it did with our Pacific Class 375 design.”

Mr Raimonds Namikis, Executive Vice President of Safin Gulf said “Safin Gulf is undergoing dynamic development with strategic focus in exploring and investing in new markets and opportunities. We see the development of the offshore business as one of such business opportunities. Having strong ambitions within our group and rapid expansion policy in our road-map, we are confident that Safin Gulf would be able to expand its offshore fleet and presence in the Middle East.”

Barring unforeseen circumstances, Sembcorp Marine expects a positive contribution to its earnings from the contract. However, the contract is not expected to have any material impact on the consolidated net tangible assets per share of Sembcorp Marine for the year ending December 31, 2012.

World Maritime News Staff, February 17, 2012; Image: PPL Shipyard


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Facts & Figures of Marintec China:
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• Over 1,700 exhibiting companies were participating in the event
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About Marintec China

Marintec China 2015 will be held on 1-4 December 2015 in Shanghai. With increasing worldwide recognition and reputation throughout the past three decades, the exhibition is attracting an increasing number of high-profile exhibitors and visitors from around the world.

Regarded as the only gateway to the Asian maritime market, Marinetech China has become larger than ever! Being the most recognized maritime trade show in Asia, Marintec China is definitely an international marketplace for buyers to source from international sellers showcasing their latest marine, ship design, offshore engineering and port technology.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. Marintec China 2013 has broken all the previous records attracting more than 1,700 exhibiting companies from 32 countries /regions and 16 group pavilions, making it the most international and authorised industry event in Asia. Taking place once every two years, Marintec China 2015 edition is a unique opportunity for suppliers to connect with new customers and re-connect with existing contacts from the region, and final one to present new products and services to the trade visitors and experts from all parts of the world.

Visit Marintec China 2015 website for more details

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