06 Feb '12, 5am

Sembcorp Marine unit bags US$792.5m contract

SINGAPORE: Sembcorp Marine's wholly-owned Brazilian shipyard, Estaleiro Jurong Aracruz has secured a contract worth around US$792.5 million to design and construct a drillship. The contract is from Guarapari Drilling BV, a subsidiary of Brazilian company Sete Brasil Participacoes. The vessel represents the next generation of high-specification drillships. It is capable of operating at 10,000 feet water depth and drilling to depths of 40,000 feet, with accommodation facilities to house a crew of 180 personnel. The drillship is scheduled for delivery no later than the second quarter of 2015. Sembcorp Marine said in a statement that it expects a positive contribution to its earnings from the contract. However, the contract is not expected to have any material impact on the consolidated net tangible assets per share of Sembcorp Marine for the year ending December 31, 2012.

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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