here - Jurong Shipyard Pte Ltd
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Company Registration Number: 196300098Z<br />
PRESS RELEASE<br />
SEMBCORP MARINE SECURES ITS 7 TH DRILLSHIP CONTRACT WORTH US$806.4<br />
MILLION FROM SETE BRASIL<br />
Singapore, November 29, 2012 : Sembcorp Marine <strong>Ltd</strong>, through <strong>Jurong</strong> Offshore <strong>Pte</strong><br />
<strong>Ltd</strong>’s wholly-owned owned subsidiary, has secured a drillship contract worth US$806.4 million<br />
from Sete Brasil Participacǒes S.A. (Sete Brasil), for the design and construction of a<br />
drillship based on <strong>Jurong</strong> <strong>Shipyard</strong>’s proprietary <strong>Jurong</strong> Espadon drillship design.<br />
This is the 7 th unit of a series of drillships that Sembcorp Marine’s subsidiaries have<br />
secured since February 2012. Including the six drillships that were announced on 6<br />
February and 8 August this year, all seven drillships will be built based on the <strong>Jurong</strong><br />
Espadon design, which represents the next generation of high specification drillships with<br />
advanced capabilities for operational efficiency and ultra-deepwater operations<br />
worldwide. Each of the drillships will be equipped with state-of-the-art art drilling facilities, a<br />
larger deck area, efficient deck arrangement and a large moon pool for enhanced drilling<br />
operations as well as DP-3 (Dynamic Positioning Class 3) capabilities and superior<br />
motion. The drillship will be capable of operating at 10,000 ft water depth and drilling to<br />
depths of 40,000 ft, with accommodation facilities for a crew of 180 personnel.<br />
The 7 th drillship unit is scheduled for delivery no later than the third quarter of 2016.<br />
These seven ultra-deepwater drillships, with deliveries ranging from 2Q 2015 to 4Q<br />
2019 will be among the first in a series of drillships to be built in Brazil to cater to the oil<br />
and gas discoveries in the offshore giant pre-salt fields of the Santos Basin. On<br />
delivery, all seven drillships will be chartered to Petrobras for 15 years.<br />
Mr João Carlos Ferraz, Chief Executive Officer of Sete Brasil said “We are pleased to<br />
sign this additional drillship unit with our trusted and proven partner, the Sembcorp<br />
Marine Group. All seven high specification drillships will be built based on the same<br />
design. Given their established track record working in Brazil, we are confident that all of<br />
these high-specification drillships will be delivered on time and meeting our schedule.<br />
We are confident that <strong>Jurong</strong> <strong>Shipyard</strong> and its parent company in Singapore will make<br />
our drillship programme a success in Brazil.”<br />
Mr Wong Weng Sun, President and CEO of Sembcorp Marine said “We are honoured<br />
to sign the 7 th drillship with our Brazilian partner, Sete Brasil. Including the six units of<br />
drillship that were secured earlier, we will be a leading builder in drillships in Brazil. We<br />
are proud to be recognised as a strategic partner in Brazil’s pre-salt drillships programme<br />
for its deepwater oil fields.”<br />
The contract is not expected to have any material impact on the consolidated net tangible<br />
assets and earnings per share of Sembcorp Marine for the year ending December 31,<br />
2012.<br />
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About Sete Brasil<br />
Sete Brasil is a Brazilian company established in December 2010 and formed by several<br />
Brazilian and US finance investors, including banks, private equity companies and the<br />
four biggest Brazilian pension funds, besides Petrobras.<br />
About Sembcorp Marine and its subsidiaries<br />
Sembcorp Marine is a leading global marine and offshore engineering group with 49<br />
years of experience and proven capabilities in the building of high-specification jack-up<br />
rigs, the innovative fast-track construction of ultra-deepwater semi-submersible rigs,<br />
conversion of floating production and storage facilities as well as the engineering and<br />
construction of offshore platforms.<br />
Headquartered in Singapore, it has a network of five shipyards in Singapore– <strong>Jurong</strong><br />
<strong>Shipyard</strong>, Sembawang <strong>Shipyard</strong>, SMOE, PPL <strong>Shipyard</strong> and <strong>Jurong</strong> SML – with strategic<br />
presence spanning Indonesia, China, India, United Kingdom, Brazil and the United<br />
States. The Group is currently constructing a 73.3-hectare Integrated Tuas New<br />
Yard Phase I facility in Singapore. When fully operational in 2H 2013, the Group’s ship<br />
repair, ship conversion and offshore capacity will nearly double from the current 1.9<br />
million dwt.<br />
A key player in Brazil’s offshore oil & gas industry, Sembcorp Marine’s fully-owned<br />
subsidiary <strong>Jurong</strong> <strong>Shipyard</strong> has been serving the country’s exploration and production<br />
sector for more than two decades. The Group has to-date delivered a total of 19 oil &<br />
gas exploration, production and storage platforms for Brazilian oilfields. These platforms<br />
contribute approximately half of Brazil’s daily output.<br />
Estaleiro <strong>Jurong</strong> Aracruz <strong>Ltd</strong>a, Sembcorp Marine’s first overseas Integrated New Yard<br />
Facility, is strategically located in the municipal of Aracruz in the state of Espirito Santo,<br />
Brazil. The wholly-owned locally incorporated 82.5-hectare new Brazilian shipyard,<br />
which broke ground in December 2011, is scheduled for full completion at end 2014.<br />
Planned shipyard facilities include a 380m x 120m drydock, a 1km berthing quay as well<br />
as ancillary piping facilities and steel fabrication workshops. On completion, Estaleiro<br />
<strong>Jurong</strong> Aracruz will have capabilities to undertake the construction of drillships, semisubmersible<br />
and jack-up rigs, platforms and supply vessels as well as FPSO integration<br />
and topside modules fabrication, in addition to traditional services in drilling rig repairs,<br />
ship repairs and modification and upgrade works.<br />
<strong>Jurong</strong> Offshore <strong>Pte</strong> <strong>Ltd</strong>, a wholly-owned subsidiary of Sembcorp Marine is in investment<br />
holding while the main activities of its subsidiaries are in the provision of marine/offshore<br />
engineering and shipbuilding services.<br />
For media and analysts’ enquiries, please contact:<br />
Ms Judy Han<br />
Senior Vice President<br />
Investor Relations & Communications<br />
Tel : (65) 62627203<br />
Fax : (65) 62610738<br />
Email : judy@sembcorpmarine.com.sg<br />
Website : www.sembcorpmarine.com.sg<br />
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