Sembcorp Adds Another $208 Million to the Books with Latest Jackup Rig Order

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May 8, 2012

SINGAPORE (Dow Jones)–Singapore-listed Sembcorp Marine Ltd. (S51.SG) said Tuesday its unit has secured a rig building contract worth US$208 million from a unit of Malaysia’s Perisai Petroleum Teknologi Bhd. (0047.KU).

PPL Shipyard will build the Pacific Class 400 jack-up drilling rig for Perisai (L) Inc. with an option to construct an additional unit of a similar rig for delivery in the second quarter of 2015, Sembcorp Marine said in a statement to Singapore Exchange. The price for the option rig is US$210 million, it added.

Perisai (L) Inc. is a wholly owned subsidiary of Perisai Petroleum Teknologi, an upstream oil and gas service provider listed on the Malaysian stock exchange, it said.

-By Gaurav Raghuvanshi; Dow Jones Newswires

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