Perisai Petroleum Defers Delivery of Perisai Pacific 102 to End October

Perisai Petroleum Teknologi Bhd reached an agreement with PPL Shipyard Ltd., a subsidiary of Singapore's Sembcorp Marine Ltd., to defer delivery of newbuild jackup Perisai Pacific 102 (400' ILC) to end October, the company disclosed Friday in a filing on local stock exchange Bursa Malaysia.

"The delivery date is now revised to a date no later than Oct. 31. The parties have further agreed that the Company shall bear no more cost for the Perisai Pacific 102 from April 1," Perisai said.

Perisai and PPL Shipyard have also agreed to take the opportunity to seek and evaluate any options for the jackup that may arise during this period.

Malaysia's Perisai placed the order for the jackup in late 2013, prior to the downturn in the global oil markets that commenced in the second half of 2014.



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