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Marine Log

April 3, 2007

Awilco Offshore exercises jack-up option at PPL

Singapore's PPL Shipyard, a subsidiary of SembCorp Marine, has signed a rig building contract with Awilco Offshore ASA for the construction of a Baker Marine Pacific Class 375 Deep Drilling Offshore Jack-up Rig.

Priced at US$149 million, the jack-up rig is being ordered under the last of the four options that PPL Shipyard granted to Awilco Offshore ASA in 2005.

Construction is expected to commence in the second quarter of 2007 with delivery scheduled in the second quarter of 2009.

The jack-up rig will be built based on PPL's proprietary Baker Marine Pacific Class 375 Deep Drilling design. The rig will be equipped with a drilling package that will enable it to drill high pressure and high temperature wells at 30,000 feet whilst operating in 375 feet of water. It has accommodations for 120 men.

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