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Jurong Shipyard bags $247m contract

Jurong Shipyard bags $247m contract

Singapore: Sembcorp Marine's unit Jurong Shipyard has won a rig order worth US$247.3 million (S$372 million) - a welcome boost to the sector, which has suffered a sharp drop in orders of late as the boom times faded.
A spokesman confirmed yesterday it was the firm's first rig order for the year.
The order to complete and deliver a semi-submersible drilling unit came from Gander Drilling, a wholly owned unit of SeaDragon Offshore, which is a Cayman Islands-based oil rig maker.
'These are trying times for the industry but we are pleased that SeaDragon has chosen Jurong as the preferred shipyard based on our excellent track record in this segment,' said Mr Don Lee, Jurong Shipyard's senior general manager of the offshore division.
'This order shows that there is selective market demand buoyed by increasingly strong fundamentals. We must thank SeaDragon for its trust and confidence in Jurong's ability to deliver fully functional and ready-to-drill semi-submersible drilling units.'
A six-column, bare-deck hull built in a Russian shipyard is expected to arrive at Jurong Shipyard before the end of the month. The firm will complete the project, including the equipping and testing of the hull.
It is scheduled for delivery by the end of next year. The new rig will be built to operate in harsh environments at a maximum drilling depth of 9,140m. The rig has also secured a five-year charter contract with Pemex, Mexico's national oil company. [07/04/09]

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