PPL Wins $117 Million Rig Contract

Tuesday, May 18, 2004
PPL Shipyard, a subsidiary of SembCorp Marine has won a $117.6 million contract from Mosbarron Ltd, a subsidiary of Awilco AS of Norway for the construction of a Baker Pacific Class 375 Jack Up Rig.

The contract includes an option for another three units of jack-up with price adjustment for increase in drilling package.

The design of the jack-up rig is a proprietary design of Baker Marine Pte Ltd, a wholly owned subsidiary of PPL Shipyard. It is designed to operate in 375 feet in water depth and in-ground drilling depth of 30,000 feet and accommodation for 120 men.

Work on the new rig is expected to commence in June 2004 with delivery scheduled in the second quarter of 2006.

Mr T. K. Ong, Managing Director of PPL Shipyard said .We are pleased that Mosbarron Ltd of Norway has selected our Baker Marine Pacific Class 375 Jack- up design. Since the launch of our new design early this year, this is the second jack-up rig of such design on order.

To-date, PPL Shipyard has built 25 jack-ups and 4 semi-submersibles. It has in 2003 delivered the first deepwater jack-up drilling rig to GlobalSanteFe International with the second jack-up drilling rig recently delivered in March 2004.

Mosbarron Ltd is controlled by Awilco AS of Norway. Awilco AS has a long tradition of 40 years experience in shipping and in owning and operating offshore rigs worldwide. The contract is not expected to have any material impact on the net tangible assets and earnings per share of SembCorp Marine for the year ending December 31, 2004.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Edelweiss Now Controls Bharati Shipyard

Edelweiss Asset Reconstruction Company has taken over management control of Bharati Shipyard, says a report in ET.   Edelweiss now controls 70% of the Indian yard’s debts.

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Ports

Proposed Shipping Legislation to Jeopardise$100-million Investment in Australia

Australian-owned Bass Strait shipping operator SeaRoad Holdings has warned the Federal Government that its proposed Shipping Legislation Amendment Bill could jeopardise

Colachel to Become Major Port

The government of India would soon build a major port at Colachel in the southernmost tip of Tamil Nadu at an estimated cost of $3.2 billion (Rs 21,000 crore),

Libya Plans to Sell Ex-rebel Tanker

Libya plans to sell a tanker that a former rebel group used in an attempt to bypass the Libyan government and export oil on its own last year, the Tripoli-based state prosecutor said on Thursday.

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4665 sec (2 req/sec)