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Marine Log

September 5, 2007

PPL Shipyard books $201 million jack-up contract

Singapore's PPL Shipyard, a subsidiary of SembCorp Marine, has been awarded a contract by Egyptian Drilling Company (EDC) to build a Baker Marine Pacific Class 375 (BMC Pacific 375) jack-up rig valued at US$201 million.

EDC is a long-established joint venture between the Egypt's national Egyptian General Petroleum Corporation and the A.P. Moller-Maersk Group of Denmark 30 years ago.

Construction of the jack-up rig is expected to start in the third quarter of 2007 with delivery scheduled in December 2009.

The jack-up will be based on PPL Shipyard's proprietary BMC Pacific 375 Deep drilling design and proprietary components. It will be equipped to drill high pressure and high temperature wells at 30,000 feet whilst operating in 375 feet of water. It will have accommodations with full catering and amenities for 120 persons.

Maersk Contractors, a unit of the A.P. Moller Maersk Group, has one similar BMC Pacific 375 rig in its fleet currently working in Brunei and another under construction in SembCorp Marine's Jurong Shipyard.

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