Tuesday, March 13, 2012

Sembcorp Marine secures US$385.5m rig construction contract

SINGAPORE: Jurong Shipyard, a fully-owned subsidiary of Sembcorp Marine, has secured a US$385.5 million contract to build a semi-submersible well intervention
rig for Helix Energy Solutions Group.

In a filing with the Singapore Exchange, Sembcorp Marine says the vessel is scheduled for delivery in January 2015.

It adds that the rig has capabilities to perform a wide variety of tasks, including top hold drilling, subsea construction, decommissioning well intervention and coiled tubing operations.

Mr Don Lee, Senior General Manager, Jurong Shipyard's Offshore Division said, "This rig is Jurong Shipyard's first specialised platform with well intervention and subsea capabilities and represents a significant advance for us in this growing new market segment."

The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Sembcorp Marine for the year ending December 31, 2012.

View the original article here

Source From Channel news Asia

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