PPL Shipyard, a subsidiary of SembCorp Marine
has signed a rig building contract worth US$121 million with Wilsuperior Ltd, a
subsidiary of Awilco Offshore ASA (AWIL) for the construction of a Baker Marine
Pacific Class 375 Deep Drilling Offshore Jack Up Rig.
The Construction Contract is an option that PPL Shipyard granted to Awilco
Offshore ASA in May 2004 and which the later has now decided to exercise. The
contract takes effect in June 2005.
Construction of the jack-up rig is expected to commence in third quarter of 2005
with delivery scheduled in the second quarter of 2007.
The
Baker Marine Pacific Class (.BMC Pacific.) 375 Deep Drilling Offshore Jack-
Up Rig is a proprietary designed developed and owned by Baker Marine Pte Ltd,
a wholly owned subsidiary of PPL Shipyard. The jack-up rig, to be named
Wilsuperior, will be equipped with a drilling package that will enable it to drill high
pressure and high temperature wells at 30,000 feet whilst operating in 375 feet of
water. It has accommodation for 120 men.
Mr T. K. Ong, Managing Director of PPL Shipyard said .We are pleased that
Awilco Offshore ASA has decided to exercise the option to build the second jack-
up rig with us. Our confidence that more Baker Marine Pacific 375 Class jack-ups
will be built is proving to be spot on. This is the sixth jack-up rig on order within a
short span of one year since the launch of this design in early 2004.
Apexindo, Awilco Offshore ASA, Deep Drilling Invest and Petrojack ASA consider
the BMC Pacific Class design a superior design that best meets their demanding
performance requirements. added Mr Ong.
Mr C. Mørch, Managing Director of Wilhelmsen Marine Services AS said .Awilco
Offshore ASA have chosen to exercise its first option under the contract with PPL
Shipyard for the delivery of a Baker Marine Pacific Class 375, based on the
excellent relationship established between our two companies during the
construction of our first jack up unit to be delivered in the second quarter of 2006.
Speaking of the market, Mr Mørch added.We see an interesting market for this
type of drilling units and are confident that this addition to our fleet will enhance
our abilities to provide first class drilling equipment to our international clients.
PPL Shipyard, a subsidiary of SembCorp Marine, is a rig-building yard with proven
track record in the building and servicing of jack-up and semi-submersible rigs.
To-date PPL Shipyard has built 26 jack-ups and 4 semi-submersibles, including
two deepwater jack-up drilling rigs for Global SantaFe International.
Wilsuperior Ltd, a company registered in Bermuda is a wholly owned subsidiary of
Awilco Offshore ASA of Norway. Awilco Offshore ASA has a long tradition of 40
years experience in shipping and in owning and operating offshore rigs worldwide.