Sembcorp’s PPL Shipyard secures $308m rig contract for October 2016

Latest gen rig capable of drilling depths of 35,000ft.

PPL Shipyard is building its second jack-up rig for BOT Lease Co., Ltd, and is naming it Hakuryu 14.

Sembcorp Marine’s subsidiary PPL Shipyard has secured a US$240 million contract to build a new jack-up drilling rig from BOT, a leasing company of The Bank of Tokyo-Mitsubishi UFJ which is under the umbrella of Mitsubishi UFJ Financial Group.

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.

Here’s more from Sembcorp Marine:

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.

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