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.
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