SembCorp Marine Clinches $211.5M Deal to Supply Newbuild Jackup to Perisai

Sembcorp Marine announced Tuesday that its subsidiary PPL Shipyard clinched a repeat order to build a third Pacific Class 400 jackup worth $211.5 million from Perisai (L) Inc., a wholly-owned unit of Malaysia-based Perisai Petroleum Teknologi Bhd.

The jackup, planned for delivery in the third quarter of 2016, will be built based on PPL Shipyard’s proprietary Pacific Class 400 design. It will have similar specification as the first and second jackups, named Perisai Pacific 101 (400' ILC) and Perisai Pacific 102 (400' ILC), which the company is building for Perisai Petroleum under contracts secured in May 2012 and February 2013, respectively.

“This third jackup order will further strengthen Perisai’s position as an offshore drilling operator and is poised to meet the strengthening global demand for jack-up drilling rigs,” Izzet Ishak, managing director of Perisai Petroleum Teknologi Bhd said in the press release.

The high specification jackup, incorporating the latest drilling equipment for improved drilling efficiency, offline handling features and simultaneous operations support, will be equipped to operate in waters 400 feet deep as well as drill high pressure and high temperature wells to depths of 30,000 feet. It will also be equipped with full hotel services for a complement of 150 persons on board in 1-man cabins and 2-men cabins.

“We are very pleased that Perisai has chosen to order the third Pacific Class jack-up rig with us. This repeat order is a reflection of the optimism that the owner has in the jackup market. It is also an endorsement of our design and our ability to deliver on schedule and within budget. Our proprietary ownership of this design offers us the flexibility to provide custom-design turnkey solutions to meet the unique requirements of our clients and the field operators,” Wong Teck Cheong, managing director of PPL Shipyard said in the same press release.

Perisai Petroleum indicated in a separate announcement on Bursa Malaysia - the Malaysian stock exchange - that the contract price is payable in two parts, with an initial 20 percent payable upfront and the balance 80 percent on delivery of the third jackup.


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