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


Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

RigNet Partners Inmarsat to Offer Fleet Xpress

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry,

Italy's Eni Arrives Arctic as Shell Departs

As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.


Danelec Marine Expands in Brazil

Press release - Danelec Marine has announced that it is expanding its presence in Brazil by naming Telnav Telecomuniçacões Navais a Certified Service Center. With

Becker Marine, Kotug Sign MOU for LNG Hybrid Barge

Press release - Becker Marine Systems and KOTUG signed a Memorandum of Understanding to launch a LNG Hybrid Barge in the Port of Rotterdam with effect from June 2017.

Kalmar to Upgrade MSC Terminal VLC (Valencia) Cranes

Kalmar, part of Cargotec, has announced a large contract to heighten and extend the handling capabilities of eight ship-to-shore (STS) cranes at MSC Terminal VLC in Valencia, Spain.

Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Ship Repair Ship Simulators 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: 0.1203 sec (8 req/sec)