21 Apr 2008

PPL Shipyard and Sembawang Shipyard On Track to Deliver Baker Marine Pacific Class 375 Design Jack-Up Rig

Singapore, April 21, 2008 : Sembcorp Marine Ltd is pleased to announce that its subsidiaries, PPL Shipyard Ltd and Sembawang Shipyard Pte Ltd, are on track to deliver a Baker Marine Pacific Class 375 Design jack-up rig to Aban Singapore Pte Ltd, a subsidiary of Aban Offshore Ltd of India

The jack-up rig was christened Aban VIII by Mrs Deepa Reji Abraham, wife of Mr Reji Abraham, Managing Director of Aban Offshore Ltd, in a naming ceremony held in Sembawang Shipyard on 19 April 2008. The ceremony was attended by key representatives and stakeholders from Aban Offshore, PPL Shipyard and Sembawang Shipyard as well as distinguished guests from the shipping / offshore fraternity.

The Baker Marine Pacific Class 375 Design is a proprietory design licence owned by Baker Marine Pte Ltd, a wholly owned subsidiary of PPL Shipyard. The contract is a joint- venture between PPL Shipyard and Sembawang Shipyard Pte Ltd which leverages on the core competencies of both companies i.e. PPL Shipyard provides the proprietory design and equipment procurement whilst the construction and commissioning of the jack-up rig are executed by Sembawang Shipyard. This specialized rig for Aban Singapore Ltd is customized to meet owner’s requirements for operations in the Indian Ocean and is equipped with a drilling system that will enable it to drill high pressure and high temperature wells at 30,000 feet when operating in water depths of 375 feet. The rig has an accommodation capacity for 120 men.

In his welcome speech at the naming ceremony, Mr Reji Abraham, Managing Director of Aban Offshore Ltd, said “The successful delivery of Aban VIII heralds a new milestone for Aban Offshore as we continue to build up our capability and our high quality service performance to our clients in the offshore industry. The high standards of quality, productivity and safety achieved in the construction of Aban VIII are indeed a remarkable outcome of the strong capability and commitment by both PPL Shipyard and Sembawang Shipyard. We are indeed very pleased with the results of our first collaboration and certainly look forward to a long-term partnership with both PPL Shipyard and Sembawang Shipyard.”

Mr Ong Poh Kwee, Deputy President of Sembcorp Marine and Managing Director of Sembawang Shipyard said “We are honoured to be the chosen partner of Aban Offshore for the construction of their first BMC Pacific 375 Design rig. This is the 9th jack-up rig to be built in the Baker Marine Pacific Class 375 class and Sembawang Shipyard’s first new construction project in its West Yard location. We would like to thank Owners for their trust and confidence and more importantly, their commitment in jointly setting key performance targets in areas of schedule, HSE, Quality and technical innovation which help both parties raised the bar for timely and quality rig construction and redelivery. We look forward to furthering our successful partnership and at this time when the offshore oil and gas market is thriving and fast evolving, Sembawang Shipyard is excited by the opportunities of further collaboration with Aban Offshore as one of our most valued partners in the offshore section.”

The Aban VIII is expected to sail for its long-term deployment on the Indian Ocean in May 2008.

About Aban Singapore Ltd
Aban Singapore Ltd is a subsidiary of Aban Offshore Ltd, a company listed on the Mumbai Stock Exchange Ltd, India. Incorporated in 1986, the company is the largest offshore oil field service provider in India’s private sector. It has a market capitalisation of US$500 million. Currently, the company owns 8 rigs, one drill ship and one floating production unit – all on long-term contracts.

About PPL Shipyard & Sembawang Shipyard Pte Ltd
Both PPL Shipyard and Sembawang Shipyard Pte Ltd are subsidiaries of Sembcorp Marine Ltd, the marine engineering arm of Sembcorp Industries Ltd.

PPL Shipyard is an integrated rig design and rig building yard with proven track records in turnkey building and delivery of jack-up and semi-submersible rigs. To date, the yard has built and delivered more than 40 rigs of various designs and specifications.

Sembawang Shipyard Pte Ltd is one of the largest integrated ship repair and conversion facilities in Southeast Asia. With more than three decades of experience and proven track record in ship repair and offshore conversions, Sembawang Shipyard is also a recognised specialist in the niche markets of FPSO/FSO conversions, offshore vessels conversions and new-buildings, complex lengthening conversions, passenger-ship conversions / refurbishment, chemical tankers, liquefied gas carriers, offshore rigs and navy ship repairs.

For media and investor enquiries, please contact:

Ms Judy Han
Senior Vice President, Investor Relations & Communications
Sembcorp Marine Ltd
Tel: 65-62627203
Fax: 65-62610738

Email: judy@sembcorpmarine.com.sg

For the PDF version of this media release, please click here.