Turnkey construction of semisub PETRORIG I complete

PETRORIG I, the first unit of a series of four Larsen ultra deepwater semisubmersible drilling rigs on order with Sembcorp Marine's subsidiary Jurong Shipyard, has completed its turnkey construction within schedule and is well on track for its maiden assignment in the Gulf of Mexico.

Offshore staff

SINGAPORE -- PETRORIG I, the first unit of a series of four Larsen ultra deepwater semisubmersible drilling rigs on order with Sembcorp Marine's subsidiary Jurong Shipyard, has completed its turnkey construction within schedule and is well on track for its maiden assignment in the Gulf of Mexico.

The rig is scheduled for delivery and sail-away in March 2009 for a five-year charter with Petrobras America in the Gulf of Mexico.

The vessels is a sixth-generation Friede & Goldman's Ex-D Millennium Class design semisubmersible rig capable of drilling to 37,500 ft (11,430 m) deep while operating in dynamic positioning mode in ultra deep waters of up to 10,000 ft (3,048 m).

ThePETRORIG II and PETRORIG III units, the second and third Larsen Oil & Gas semisubmersible rigs under construction in Jurong Shipyard, have also obtained long-term charter contracts. PETRORIG II has secured a five-year charter from Petrobras Brasileiro S.A. for drilling offshore Brazil, while PETRORIG III has been awarded a five-year charter contract with Pemex for deployment offshore Mexico.

01/19/2009

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