PPL Shipyard secures contract for new jackup

PPL Shipyard, a subsidiary of SembCorp Marine has secured a $175 million contract from Aban Singapore Pte Ltd, a subsidiary of Aban Loyd Chiles Offshore Ltd of India for delivery of a new Baker Marine Pacific Class 375 jackup rig.

Offshore staff

(Singapore) - PPL Shipyard, a subsidiary of SembCorp Marine has secured a $175 million contract from Aban Singapore Pte Ltd, a subsidiary of Aban Loyd Chiles Offshore Ltd of India for delivery of a new Baker Marine Pacific Class 375 jackup rig.

Construction of the jackup is expected to begin in 1Q 2006 with delivery targeted for mid-2008.

The Baker Marine Pacific Class 375 design is owned by Baker Marine Pte Ltd, a wholly owned subsidiary of PPL Shipyard. The jackup will be customized to meet the owner's requirements for operations in the Indian Ocean.

It will be equipped with a drilling package for high pressure and high temperature wells at 30,000 ft in up to 375 ft of water. It will also be fitted with accommodations for 120 people.

"With the robust offshore oil and gas market and the high utilization and charter rates for jackup rigs, we can expect more rigs to be ordered," said T.K. Ong, managing director of PPL Shipyard.

1/6/06

More in Drilling & Completion