JSPL to acquire high-spec jackup

Jurong Shipyard has agreed to sell its CJ-70 harsh environment jackup to Seadrill subsidiary JSPL for S$356 million ($257 million).

Offshore staff

SINGAPORE-- Jurong Shipyard has agreed to sell its CJ-70 harsh environment jackup to Seadrill subsidiary JSPL for S$356 million ($257 million).

The sale price is based on the rig’s construction status, with delivery scheduled no later than end April 2011. Once delivered, the rig will start a five-year charter for Statoil offshore Norway.

The CJ-70 is based on the MSC CJ-70 design. According to Jurong parent company Sembcorp Marine, it is one of the world’s largest jackups, with each leg, including footings, measuring 205 m (672 ft) long.

It can operate in water depths up to 150 m (492 ft), with a higher variable deck load and operating efficiency than earlier generation jackups. The rig’s size also accommodates ancillary services such as well testing and early production.

The rig was originally commissioned by another owner, which went into liquidation in 2009.

07/12/2010

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