SembCorp wins rig

Jurong Shipyard, a wholly owned subsidiary of SembCorp Marine in Singapore, is pleased to announce that the Bermuda-based SeaDrill Limited has exercised the option to build the second unit of the 6th generation ultra deep water semi-submersible drilling rig at a contract value of $404 million. The contract price is based on a turnkey contract with all owner-furnished equipment including the 7,500 feet of riser and BOP.

In connection with the declaration of this option, SeaDrill has awarded Jurong Shipyard an additional option to build a third unit of the semi-submersible based on the same design and at comparable terms. This option takes effect in August 2006.

The second unit of the Friede & Goldman ExD-designed semi-submersible rig is scheduled for delivery in November 2008.