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Dr Benety Chang, Deputy Chairman of PPL Shipyard said “We are pleased that Gulf Drilling International has chosen our latest proprietary Pacific Class 400 series, a proven design that has been well-accepted by the industry. Since the launch of this Pacific Class 400 series, five such jack-ups have been ordered with one unit delivered and operating in West Africa. Another rig will soon be delivered and is scheduled for deployment in Thailand.” “PPL Shipyard’s ownership of the Pacific Class 400 design gives us the flexibility of design control and the ability to customise turnkey solutions to suit our customers’ unique project requirements. Our ability to deliver early and meet Gulf Drilling International’s commitments was an added attraction for this particular rig contract. We would like to thank Gulf Drilling International for their trust and confidence in PPL Shipyard and are committed to the timely delivery of this jack-up rig. On completion, the rig would proceed to work in Qatar.” Mr Ibrahim Al-Othman, the Chief Executive Officer of Gulf Drilling International said “We are pleased to be placing this order with PPL. We are most familiar with the PPL rig designs and consider them to be very suitable for the requirements of our clients here in Qatar. PPL is well known as a high quality rig builder and we are pleased to have placed our first order with them. I look forward to adding another high-spec premium rig to our fleet and am confident that this rig will perform to our clients’ satisfaction.” Barring unforeseen circumstances, Sembcorp Marine expects a positive contribution to its earnings from the contract. However, the contract is not expected to have any material impact on the consolidated net tangible assets per share of Sembcorp Marine for the year ending December 31, 2012. About Gulf Drilling International Gulf Drilling International is a world class drilling service provider, offering safe, efficient and innovative drilling services. GDI is listed on the Qatar Exchange and has Qatar Petroleum as its majority shareholder. About PPL Shipyard PPL Shipyard, a subsidiary of Sembcorp Marine, is an integrated rig design and rig building yard with a proven track record in the turnkey building and delivery of jack-up and semi-submersible rigs. To-date, the yard has built and delivered over 24 rigs of various designs and specifications in the last 6 years. It has delivered the first unit of the jack-up rig built based on the Pacific Class 400 design to Transocean, the largest rig operator in the world in December 2011. Currently the rig is working in West Africa on a long-term charter. Sembcorp Marine press release |
Sembcorp Marine's PPL Shipyard Secures US$218.5 Million Contract to Construct a Jack-Up Rig for Gulf Drilling International Ltd (Q.S.C.)