Jurong secures repeat order for semi-sub rig

Jurong Shipyard, a wholly-owned subsidiary of Sembcorp Marine, has secured a contract from the Norwegian drilling and production contractor Larsen Oil & Gas to build a deepwater semi-submersible drilling rig at a contract value of $640 (S$870) million.

This latest turnkey rig order is the fourth consecutive newbuild deepwater semi-submersible drilling rig that the owner has placed with Jurong Shipyard. Scheduled for delivery in April 2011, the 6th generation ultra-deepwater semisubmersible drilling rig will be built based on the Friede & Goldman Ex-D design.

It will have specifications identical to the three deepwater semisubmersible drilling rigs ordered by owner from Jurong Shipyard. Martin Nordaas, Managing Director of Larsen Oil & Gas (Singapore) said “We have chosen Jurong Shipyard as a trusted partner in our strategic thrust into deepwater rig building. Our confidence in Jurong Shipyard is a result of our strong working relationship and the yard?s proven rig building track record. We are pleased with the yard?s high standards of quality, safety and reliability in its on-time deliveries. The co-operation with Jurong Shipyard stretches far beyond traditional client-contractor relations and this cooperation is a large part of our success over the past five years.

All three units of our deepwater semi-submersible rigs, PetroRig I, PetroRig II and PetroRig III, currently under construction in the shipyard have secured long-term charter contracts. PetroRig I will be chartered to Petrobras America to drill in the Gulf of Mexico while PetroRig II is contracted to Petroleo Brasileiro S.A. for drilling in offshore Brazil in 2009. PetroRig III will be chartered to Pemex for drilling in Mexico in 2010. We remain optimistic of the offshore oil and gas market and will continue with our robust expansion into this sector.”