BOT Lease Co., Ltd places another newbuild jackup order
Sembcorp Marine is pleased to announce that its subsidiary PPL Shipyard has secured a USD240 million contract to build a new jack-up drilling rig from BOT Lease Co., Ltd (“BOTL”), a leasing company of The Bank of Tokyo-Mitsubishi UFJ which is under the umbrella of Mitsubishi UFJ Financial Group. The contract value may be higher on additional specification requirements to be negotiated among the parties involved. Scheduled for delivery at the end of October 2016, the new rig (to be named Hakuryu-14) will be built based on PPL Shipyard’s established proprietary Pacific Class 400 (PC 400) design. This latest generation of high-specification jack-up rigs is capable of operating in deeper waters of 400 feet and drilling high pressure and high temperature wells to depths of 35,000 feet. The rig design features two million pounds hook load and the latest drilling equipment for improved drilling efficiencies along with offline handling features and simultaneous operations support. It will have accommodation for 150 persons with full catering and amenities. This will be the second jack-up rig that PPL Shipyard is building for BOTL, with Japan Drilling Co., Ltd (JDC) once again being the project coordinator as well as providing the project management team during the rig construction phase. The first unit, named Hakuryu-12, is presently under construction with contractual delivery at end January 2015. PPL Shipyard also built the Hakuryu-10, a PPL Shipyard proprietary Pacific Class 375 series, for JDC - that unit was delivered in June 2008 and is currently chartered to Total E&P Indonesia.