Perisai, PPL to Defer Delivery of Jackup Perisai Pacific 102 to March 2016

Perisai Petroleum Teknologi Bhd disclosed Monday that it has reached an agreement with PPL Shipyard Pte Ltd. -- a unit of Singapore's Sembcorp Marine Ltd. -- to defer delivery of its second jackup by 11 months to March 2016, the company said in a filing with local stock exchange Bursa Malaysia.

"We wish to inform that we have agreed with PPL Shipyard Pte Ltd. to defer the delivery date of Perisai Pacific 102 (400' ILC) to a date no later than March 31, 2016," Perisai said in the announcement.

The company placed the order for the Pacific Class newbuild jackup, initially planned for delivery April 30, in late February 2013.

Last week, Perisai's 51 percent subsidiary Perisai Offshore Sdn Bhd reached an agreement with PETRONAS Carigali Sdn Bhd and HESS Exploration and Production Malaysia BV to farm-out the contract for Perisai Pacific 101 (400' ILC) -- the Malaysian firm's first jackup built by PPL Shipyard -- to U.S. independent for $26.9 million over a nine-month period.

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