Thursday, April 05, 2012

Sembcorp Marine secures US$218.5m rig building contract

SINGAPORE: Sembcorp Marine has secured a contract on Thursday from Gulf Drilling International, one of the largest Middle East drilling companies, to build a jack-up rig worth US$218.5 million.

In a filing with the Singapore Exchange, Sembcorp Marine said its subsidiary PPL Shipyard expects to deliver the new rig in the first quarter of 2013.

Sembcorp Marine added that the new rig is specially customised for the intended project and it has accommodation for 150 personnel with full hotel services.

On delivery, Sembcorp Marine says the jack-up rig will be the most technologically advanced drilling rig operating in Qatar.

Barring unforeseen circumstances, Sembcorp Marine expects a positive contribution to its earnings from the contract.

However, it adds that 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.


View the original article here

Source From Channel News Asia

No comments:

Post a Comment