Perisai Petroleum Orders Second Pacific Class 400 Jack-Up from PPL Shipyard

Pacific class 400 jack-up transocean honor
Transocean Honor, a Pacific Class 400 Jackup, image courtesy Sembcorp Marine

The jack-up drilling market continues to show strength today with the latest order by Perisai Petroleum Teknologi Bhd. for a Pacific Class 400 newbuild rig from Sembcorp Marine’s subsidiary PPL Shipyard.

At a cost of USD $208 million, this is the second such rig ordered by Perisai in the past year and is scheduled for delivery in Q2 2015.  

In a phone call with Robert Jensen, Partner at RS Platou Markets, he commented,

“Jack-ups are showing the highest momentum in the market these days with a very strong discrimination against older rigs.  There is a constant struggle amongst operators for modern jackups.  Over the next 5 years we’ll see a gradual phase-out of many of the rigs which are 30 years or older.”

Incorporating the latest drilling equipment for improved drilling efficiency, offline handling features and simultaneous operations support, the Pacific Class 400 jack-up is a high specification rig capable of operating in deeper waters of 400 feet and drilling high pressure and high temperature wells to depths of 30,000 feet. The rig will be equipped with full hotel services for a complement of 150 persons on board in 1- and 2-men cabins.