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Sembcorp Marine's Jurong Shipyard Secures New Deep Water Capacity Ocean Apex Project From Diamond Offshore Drilling, Inc

For US$135 Million
Jurong Shipyard, a wholly-owned subsidiary of Sembcorp Marine has secured a contract worth US$135 million from Diamond Offshore for the OCEAN APEX Project; scheduled to be delivered from Singapore for second quarter of 2014 and will add new capacity to Diamond's deep water rig fleet.
The rig, to be named the Ocean Apex, will be capable of operations in water depths up to 6,000 feet. Design specifications also include a variable deck load of 7,000 long tons, a maximum hook-load capacity of two million pounds, crew quarters capacity for 140 personnel, and a very large desk space.
Mr John Vecchio, Executive Vice President of Diamond Offshore said "We are pleased to have entered into this agreement with Jurong Shipyard to enhance our deep water rig fleet with this high profile project. We are excited about our new project and look forward to working with Jurong Shipyard for an on time delivery of the Apex."
Mr Wong Weng Sun, President and CEO of Sembcorp Marine said "We are happy that Diamond Offshore has chosen to partner with Jurong Shipyard in their fleet enhancement programme. We are heartened by their trust and confidence in our capabilities and will continue to build on this strong partnership and synergy going forward."
The above contract is not expected to have any material impact on the consolidated net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2012.
Source: Sembcorp