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Petrojack Asa News

11 Mar 2005

Sembcorp Wins $121M Rig Deal

Pacific Class 375 Deep Drilling Offshore Jack Up Rig. Offshore ASA in May 2004 and which the later has now decided to exercise. contract takes effect in June 2005. with delivery scheduled in the second quarter of 2007. a wholly owned subsidiary of PPL Shipyard. water. It has accommodation for 120 men. Mr T. up rig with us. will be built is proving to be spot on. short span of one year since the launch of this design in early 2004. performance requirements. added Mr Ong. Mr C. construction of our first jack up unit to be delivered in the second quarter of 2006. our abilities to provide first class drilling equipment to our international clients. track record in the building and servicing of jack-up and semi-submersible rigs.

18 Jul 2006

Petrojack Sells Two Rigs

Petrojack ASA has sold two of its jackup rigs under construction at Jurong Shipyard in Singapore, the PetroJack I and PetroJack III at a combined price of $420m to A.P. Møller-Maersk. The sale is constructed as a sale of the shares in the rig owning companies PetroJack I Pte Ltd and PetroJack III Pte Ltd residing in Singapore. The two jack-ups are of Baker Pacific Class 375 design. They will be capable of operating in water depths up to 375 feet in Asia Pacific, the Middle East, the Mediterranean, Latin America, West Africa as well as in the harsh environment of the central and southern parts of the North Sea. The rigs distance themselves from conventional jack-ups in several areas, not least on the drill floor where the highly mechanised equipment leads to increased safety of the crew.

06 Apr 2006

Norwegians Buy Oil Rigs

Norway’s Petrojack ASA is selling three jackup oil rigs, being built in Singapore, for $600m. Awilco Offshore ASA and Sinvest ASA will share the cost of the three offshore oil and natural gas drilling platforms. The Baker Marine Pacific Class 375 deep drilling rigs had been slated for sale to Transocean Inc., but the Houston company decided not to purchase the units. (Source: Monsters and Critics.com)

05 Jan 2006

Transocean Granted Purchase Option Rights for Jackup Rigs

Transocean Inc. has entered into agreements with PetroJack ASA of Norway (PetroJack) providing Transocean with the exclusive marketing rights in respect of three PetroJack jackup rigs under construction, PetroJack I, II and III, as well as options to purchase each unit. The three Baker Marine Pacific Class 375 deep drilling jackup rigs are currently under construction in Singapore with expected delivery dates in 2007 and 2008. The exclusive marketing rights and options granted to Transocean by PetroJack will terminate on March 15, 2006, but can be extended by 30 days. Transocean anticipates exercising its purchase right on each unit once it has secured a contract of sufficient duration and value, although Transocean is not obligated to purchase any of the jackup rigs.