08 May 2012

Perisai Petroleum secures US$ 208 million contract from Sembcorp Marine to build drilling rigs, to be completed by July 2014

(PERISAI closing stock price today (8.5.2012) was 89 sen)

Perisai Petroleum Teknologi Bhd has secured a contract from Sembcorp Marine's subsidiary to build a drilling rig costing US$208mil.

It said on Tuesday its unit Perisai (L) Inc had signed a rig construction contract with PPL Shipyard to build the rig which is expected to be completed and delivered by the end of July 2014.

Additionally, Perisai (L) Inc was granted an option by PPL Shipyard to construct an additional unit of a similar specification jack-up rig for delivery in the second quarter of 2015.

Perisai said the Pacific Class 400 jack-up drilling rig is a high-specification latest generation jack-up rig capable of operating in water depths of 400 feet and drilling to depths of 30,000 feet.

The rig's maximum drill centre is cantilevered at 75 feet aft and it has a derrick hook load capacity of 1,500,000 lbs.The rig is equipped with full hotel services for a complement of 150 men on board in one-man cabins and two-man cabins.

Source: www.thestar.com.my


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