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Sembcorp Marine bags US$240m job for new jack-up rig

6/11/2014 by Sharon Shahzad

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SEMBCORP Marine has clinched a US$240 million contract to build a new jack-up drilling rig from repeat customer BOT Lease Co Ltd (BOTL), a leasing company of The Bank of Tokyo-Mitsubishi UFJ.

The contract for the new rig - the latest generation of high-specification jack-up righs - scheduled for delivery at the end of October 2016 and to be named Hakuryu 14, was secured by Sembcorp Marine's subsidiary PPL Shipyard.

The value of the contract may be higher depending on additional specification requirements to be negotiated.

The rig is capable of operating in deeper waters of 400 feet (121.9 metres) and drilling high pressure and high temperature wells to depths of 35,000 feet (10,670 metres) and will be built based on PPL Shipyard's proprietary Pacific Class 400 (PC 400) design.

This is the second jack-up rig that PPL Shipyard is building for BOTL with Japan Drilling Co Ltd (JDC) once again being the project coordinator and providing the project management team during the rig construction phase. The first unit, named Hakuryu 12, is currently under construction with contractual delivery at end-January 2015.

This article has been extracted from http://www.businesstimes.com.sg, please click on this link to read the article in full http://www.businesstimes.com.sg/companies-markets/sembcorp-marine-bags-us240m-job-for-new-jack-up-rig

Montash is a multi-award winning, global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy & Technologies, Demand IT and Business Engagement, Digital and E-commerce, Leadership Talent, Infrastructure and Service Delivery, Project and Programme Delivery.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

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