KUALA LUMPUR (May 8): PERISAI PETROLEUM TEKNOLOGI [] Bhd’s has entered into a rig CONSTRUCTION [] contract (RCC) with PPL Shipyard Pte Ltd for the latter to build a jack-up drilling rig for a lump sum of US$208 million (RM634.4 million).
In a filing to Bursa Malaysia Securities Bhd on Tuesday, Perisai said the the jack-up drilling rig was expected to facilitate its entry into the offshore drilling segment specifically in Malaysia and broadly in the Asia Pacific region.
Perisai also said that its wholly owned subsidiary Perisai (L) Inc (Perisai Labuan) had also been granted an option (“Option”) by PPL to construct an additional rig of similar specification to the Jack-Up Drilling Rig (“Option Rig”).
The price for the Option Rig is US$210 million but is subject to a revision should cost escalate, it said.
Perisai said the Jack-Up Drilling Rig was expected to be delivered by the end of July 2014, and Option Rig, if the Option is exercised, to be delivered in the second quarter of 2015.
Perisai said the the jack-up drilling rig was expected to facilitate its entry into the offshore drilling segment specifically in Malaysia and broadly in the Asia Pacific region.
“The jack-up drilling rig would also broaden Perisai’s asset offering to its clients and together with its other marine assets, expands its participation in the offshore oil and gas value chain by integrating key strategic assets within its stable capable of servicing the upstream exploration, development and production phases of offshore oil and gas field development,” it said.
The company said the contract was expected to contribute positively to the its earnings upon deployment of the drilling rig.
In a filing to Bursa Malaysia Securities Bhd on Tuesday, Perisai said the the jack-up drilling rig was expected to facilitate its entry into the offshore drilling segment specifically in Malaysia and broadly in the Asia Pacific region.
Perisai also said that its wholly owned subsidiary Perisai (L) Inc (Perisai Labuan) had also been granted an option (“Option”) by PPL to construct an additional rig of similar specification to the Jack-Up Drilling Rig (“Option Rig”).
The price for the Option Rig is US$210 million but is subject to a revision should cost escalate, it said.
Perisai said the Jack-Up Drilling Rig was expected to be delivered by the end of July 2014, and Option Rig, if the Option is exercised, to be delivered in the second quarter of 2015.
Perisai said the the jack-up drilling rig was expected to facilitate its entry into the offshore drilling segment specifically in Malaysia and broadly in the Asia Pacific region.
“The jack-up drilling rig would also broaden Perisai’s asset offering to its clients and together with its other marine assets, expands its participation in the offshore oil and gas value chain by integrating key strategic assets within its stable capable of servicing the upstream exploration, development and production phases of offshore oil and gas field development,” it said.
The company said the contract was expected to contribute positively to the its earnings upon deployment of the drilling rig.
