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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Ocean Installer Enters Australian O&G Market

Ocean Installer’s said that it has established office in Perth, Australia to meet demand for subsea construction services.  “This is the beginning of our presence

Nordic Wins with Noble

Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy,

Pemex Suspends Eviction of Workers in Campeche

Due to the behavior shown by the low pressure system in the Gulf of Mexico, whose career was diverted in the last hours, the Technical Analysis Group Emergency

Ports

Port of Long Beach Announces Executive Appointments

The Long Beach Board of Harbor Commissioners recently filled key Harbor Department executive posts with staff veterans as the Department continues to undergo a

Lerwick Port Awards £16.5 mi Expansion Contract

Lerwick Port Authority has awarded a construction contract for the latest expansion of the harbour’s facilities in a project costing a total of £16.5 million

Colombian Professionals to be Trained in Antwerp

APEC, the training centre for the port of Antwerp, is to provide training for shipping professionals from the port of Santa Marta (Colombia) for the next four years.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.1173 sec (9 req/sec)