PPL Shipyard Wins $134M Rig Contract

PPL Shipyard, a subsidiary of SembCorp Marine signed a rig building contract worth $133.7 million with PT Apexindo Pratama Duta Tbk (.Apexindo.), the largest Indonesian oil & gas drilling company for the construction of a Baker Marine Pacific Class 375 Deep Drilling Offshore Jack Up Rig The Baker Marine Pacific Class (.BMC Pacific.) 375 Deep Drilling Offshore Jack Up Rig is a proprietary design developed by Baker Marine Pte Ltd, a subsidiary of PPL Shipyard.

ContractIncorporated in the design of the rig is the Baker Marine Time Tested Proprietary Jacking System that could withstand storms without the use of a Rack Chock System. The jack-up rig is equipped to drill high pressure and high temperature wells of more than 25,000 feet and operating in 375 feet of water. It has accommodation for 120 men. Construction of the jack-up rig is expected to commence in the first quarter of 2005 with delivery scheduled in January 2007.

Mr Hertriono Kartowisastro, President Director of Apexindo said .Apexindo has chosen PPL Shipyard to build its newest jack-up rig because of its long standing reputation in constructing offshore rigs, especially jack-up.. Apexindo realizes the promising future of offshore market, especially for jack-up rigs, in Indonesia, Southeast Asia, as well as in the Middle East. Therefore, we would like to enhance our competitive advantage by acquiring a new jack-up.

Mr Pierre Ducasse, COO of Apexindo said .Apexindo.s Rani Woro jack up, a Baker Marine 300 unit, with its outstanding performances and capabilities, was the determining factor for the decision to select the new BMC Pacific design to be built by PPL Shipyard as our final choice. The Baker Marine Pacific Class proven design associated with its latest technologies and modern drilling equipment will certainly enhance our capacity to serve the oil & gas industry.