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

Offshore

InterMoor Completes Juniper Mooring Installation Contract

InterMoor has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago, reportedly the largest foundation

Boost for Offshore Wind Energy

As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior

Maersk Line Gets new AEO number

Maersk Line has been re-certified as an Authorised Economic Operator (AEO) with the AEO-F, the highest achievable accreditation in the European Union programme.

Ports

Libya Forces Tanker Away from Supplying Rival Government

Libya's recognized government said it forced a tanker from delivering fuel to its rival administration, diverting the vessel to its own territory by threatening an air attack on it.

Winter Storm Closes New York/New Jersey Terminals

All marine terminals at the Port of New York and New Jersey are expected to close around 3: 30 p.m. today and remain closed all day tomorrow as a severe winter

Batangas Port Sets Container Record

Batangas Container Terminal (BCT) set a new record in 2014 for containers handled, says its operator Asian Terminals, Inc. (ATI).  Port handled over 98,000 twenty-foot-equivalent

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1565 sec (6 req/sec)