PPL Shipyard cancels jack-up rig pair contract

Sembcorp Marine subsidiary PPL Shipyard has terminated two contracts with the subsidiaries of Perisai Petroleum Teknologi for the construction of two jack-up rigs following the expiry of the existing deferment agreements.

The jack-up rigs are drilling rigs that were built based on the PPL Pacific Class 400 design. These high specification rigs are capable of operating in waters deeper than 120 metres and drilling high pressure and high temperature wells to depths of 9,000 metres. They will be equipped with full hotel services for a complement of 150 people on board.

Sembcorp Marine continues to actively market the rigs to prospective buyers.