Here are possible order wins Sembcorp Marine could ink soon

Some are worth US$600m.

According to CIMB, Sembcorp Marine has secured a second semi-submersible well-intervention rig order (US$346m) from the Helix Energy Group, for delivery in mid-2016.

The rig, named Q7000, will be built using Sembcorp Marine’s design. These rigs are able to perform conventional and extended top-hole drilling, subsea construction, decommissioning well-intervention, coiled tubing operations and twin ROV deployment.

Here's more from CIMB:

The contract is 10% lower than that for the first semi-sub wellintervention rig ordered by Helix in Mar 12 as it is of a smaller size. Nevertheless, it brings the company’s YTD new orders to about S$3.9bn, or 78% of our S$5bn target.

We expect more orders before year-end. Near-term possible contract wins could come from Oslo-listed Awilco Drilling, which is in talks with Sembcorp Marine, Cosco Corp and Daewoo Shipbuilding for a Moss CS50 design semi-submersible worth US$600m with options for up to two more.

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