Letourneau Technologies Inc News

Rowan Companies, Inc. (NYSE: RDC) announced that Thomas P. Burke has been appointed to serve as the Company's Chief Operating Officer, and Melanie M. Trent has been appointed to serve as Senior Vice President, Chief Administrative Officer and Corporate Secretary. Burke, who joined the Company in December 2009, previously served as the President and Chief Executive Officer of the Company's manufacturing subsidiary, LeTourneau Technologies, Inc., which was sold to Joy Global in June 2011. Prior to such time, he was employed by Complete Production Services, an oilfield services company, as a Division President from 2006 to 2009, and as Vice President Corporate Development from 2004 to 2006. Before joining Complete Production, Mr.

Rowan Companies, Inc. (NYSE: RDC) announced that its wholly-owned subsidiary, LeTourneau Technologies, Inc. (LTI) has entered into a contract to provide the rig kit, license and certain technical consultancy assistance to Vietnam's PetroVietnam Marine Shipyard J/S Company (PetroVietnam Shipyard) for the construction of a newbuild LeTourneau Super 116E jack-up rig with 377 ft of leg. PetroVietnam Shipyard will construct the Super 116E jack-up for Vietnam Oil & Gas Group (PetroVietnam) in Vung Tau City, S. R. Vietnam. LTI's contract with PetroVietnam Shipyard, valued at approximately $40m, provides key rig kit equipment, designed and fabricated by LTI, including the leg components, elevating system, controls, spud can materials, cantilever skidding system and hold-down structures.

ABS has been selected to class the first newbuild jackups for Petrobras in 25 years. The Brazilian energy giant has ordered two LeTourneau Technologies Inc. (LTI) Super S116E design jackups. The sister units, to be named Petrobras 59 and Petrobras 60, will be built at São Roque do Paraguaçu, Bahia, Brazil, by Consórcio Rio Paraguaçu. This consortium is composed by three major Brazilian contractors, Oderbrecht, Queiroz Galvão and UTC. The rigs are intended for operation offshore Brazil. ABS will class the self-elevating rigs that are capable of drilling under high pressure and high temperature, operating in water depth of up to 350 ft with drilling depth of up to 30,000 ft This type of high specification jackup has not been built in Brazil for nearly 25 years.

Rowan Companies, Inc. (NYSE: RDC) announced today that its manufacturing subsidiary, LeTourneau Technologies, Inc. (LTI) has signed contracts valued at approximately $185m with a Brazilian construction consortium to provide the rig kit, rig design and drilling equipment for two LeTourneau Super 116E jack-up rigs. The two Super 116E jack-up rigs are to be built at Petrobras' Maragojipe, Bahia, Brazil facility by the Consorcio Rio Paraguacu. The rig kits will be substantially delivered in 2009 while most of the drilling equipment will be provided in 2010. The Super 116E Class is one of five current LTI jack-up rig designs, and is an evolution of LTI's industry workhorse 116-C Class design. The Super 116E provides for up to 2,000 kip greater payload than its predecessor.

At the recent ABS Council meeting, 31 prominent members of the shipping and offshore industries were elected as new members of the prominent international classification society. The ABS Council also elected seven new members to the society’s Technical Committee. “Our strength as a classification society is the breadth of experience and depth of wisdom of our membership,” said ABS Chairman & CEO Robert D. Somerville. Zamil A. Thomas J. Angiolino, Senior Vice President, Willis of New York, Inc. Commodore R. Balasubrmaniam, IN (Retd.), Director, Rajapur Shipyard Pvt. Ltd. Dong-Su Choi, President & CEO, SLS Shipbuilding Co., Ltd. Robert G. George A. Cupstid, Senior Vice President and General Manager, LeTourneau Technologies, Inc. Tim E. Steven Durrell, President, Irving Shipbuilding Inc.

LeTourneau Technologies, Inc. announced the sale of a second LeTourneau Super 116E Class jack-up rig kit to Lamprell Energy, Ltd., with final delivery expected by the end of 2008. The rig is to be built at Lamprell's Hamriyah facility located in the United Arab Emirates for Scorpion Offshore Ltd. Lamprell is currently building an initial Super 116E Class jack-up at the same location, also for Scorpion Offshore, under a license from LTI. This order is the 18th for the popular LeTourneau Super 116 series of jack-ups. The Super 116E Class is one of five current LTI jack-up rig designs, and an evolution of the LTI's industry workhorse 116-C Class design. The Super 116E provides up to 2,000 kip greater payload than its predecessor.