PPL Shipyard Delivers Aquamarine Driller Ahead of Schedule

Sembcorp Marine announced that its subsidiary PPL Shipyard Pte Ltd (PPL) has successfully delivered Aquamarine Driller, the 3rd ultra-premium high-specification jackup rig ordered by Vantage Drilling Company, two months ahead of schedule with payment fully received.

The jackup rig is built based on PPL's proprietary Pacific Class 375 design. This successful and proven design has been well received by the offshore oil and gas industry, with a total of 27 jackup rigs ordered to-date. 18 units have been delivered and are now operating successfully round the world. The Pacific Class 375 jackup rig is an independent leg, cantilever jackup with a drilling depth of 30,000 feet and is capable of operating in water depth up to 375 feet.

The early delivery has enabled Vantage Drilling to clinch an early charter contract in West Africa.

Vantage Drilling, a company listed on the American Stock Exchange, contracted PPL to deliver 4 drilling rigs. Prior to Aquamarine Driller, PPL had earlier delivered 2 rigs which are currently working successfully in Thailand and West Africa. PPL Shipyard is expected to deliver the fourth rig to Vantage Drilling in the fourth quarter of 2009.

PPL Shipyard is an integrated rig design and rig building yard with proven track record in the building and servicing of jackup and semisubmersible rigs. To-date, the shipyard has built 40 jackups and 4 semisubmersible rigs.