SembCorp Marine Near Winning $400M Rig Job

Wednesday, August 03, 2005

According to reports, Oil rig and shipbuilding and shiprepair company SembCorp Marine Ltd. S5(1.SG), or SembMarine, Wednesday said it was close to winning an order to build a semi-submersible rig worth around $400 million. SembMarine said its unit, Jurong Shipyard, signed a Letter of Intent with Larsen Oil & Gas unit, PetroMena AS, to build the rig, with the construction contract taking effect in November 2005, and delivery due between the end of 2009 and early 2010.

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