Petrojack Enters LOI to Sell Two Jackups

Petrojack ASA

Petrojack ASA has entered into a Letter of Intent to sell two of its jackup rigs under construction at Jurong Shipyard in Singapore to a major international drilling contractor.

The two rigs (Petrojack I and Petrojack III) will be sold for a total sum of approximately US $420 million. The sale is subject Contract and Board Approval by the parties.

It is expected a sale will become effective within approximately two weeks.