PPL Shipyard Wins Jack-Up Rig Order from Japanese Consortium

Pacific Class 400 jack-up, image courtesy PPL Shipyard

Sembcorp Marine’s subsidiary PPL Shipyard secured a USD $220.5 million contract to build a Pacific Class 400 jack-up rig from a BOT Lease Co., Ltd (BOTL), a subsidiary of Mitsubishi UFJ Financial Group, in collaboration with Japan Drilling Co. Ltd.

Japan Drilling will be the co-ordinator in the project and will provide the project management team during the rig construction phase.

Mr Douglas Tan, Managing Director of PPL Shipyard commented on the order noting that “since the launch of this Pacific Class 400 series, twelve such jack-ups have been ordered with six units delivered and operating in West Africa, Gulf of Thailand, Qatar and Middle East. The jack-up rig order is a reflection of the optimism that the owner has in the jack-up rig market and an endorsement of PPL Shipyard’s design capabilities, efficient project execution, and track record for quality and timely deliveries.”