Rig: Gerd

Delivery Delay for Perisai Pacific 102

Reference is made to our announcements of 5 October 2015 and 28 February 2013 on the deferment of delivery date and the construction of the Perisai Pacific 102, respectively. We wish to inform that we have agreed with PPL Shipyard Pte Ltd (“PPL”) to further defer the delivery date of Perisai Pacific 102 to 31 October 2016 (“Further Deferment"). The Company and PPL had earlier agreed to revise the original delivery date for the Perisai Pacific 102 to 31 March 2016. The delivery date is now revised to a date no later than 31 October 2016. The parties have further agreed that the Company shall bear no more cost for the Perisai Pacific 102 from 1 April 2016. Additionally, the parties also agreed to take the opportunity to seek and evaluate any options that may arise during this period of Further Deferment. Apart from the above, all other contractual provisions remain the same.

Perisai delays delivery of second jackup rig

Perisai Petroleum Teknologi BHD (“Perisai”) has announced that the company intends to delay the delivery of its second jackup rig ‘Perisai Pacific 102’ until the 31st March 2016. The unit was originally intended to be delivered on 30th April 2015, however, the delivery date is now revised to a date no later than 31st March 2016. The agreement was reached between Perisai and PPL Shipyard Pte Ltd.

Perisai Drilling order second jackup rig as the company looks to break into the Malaysian drilling market

Malaysia’s Perisai Petroleum Teknologi has placed an order for the company’s second jackup rig with SembCorp’s PPL shipyard in Singapore. The order follows the group’s first jackup order in May 2012 for the ‘Perisai Pacific 101’ as it looks to establish itself as a key drilling contractor in Malaysia. The jackup ordered is based on the Pacific Class 400 the same as the previous order and is due for delivery in Q2 2015 with a total construction cost of US$208 million.