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Jurong Shipyard wins S$296m deal to build jack-up rig

Jurong Shipyard, a unit of Sembcorp Marine, has won a S$296 million deal to build a jack-up rig for new customer Hercules North Sea.

SINGAPORE: Jurong Shipyard, a unit of Sembcorp Marine, has won a S$296 million deal to build a jack-up rig for new customer Hercules North Sea.

The rig is designed to operate in waters of 400 feet and drill to depths of 30,000 feet.

In a statement on Wednesday, Sembcorp Marine said the rig is expected for delivery in the second quarter of 2016.

Upon delivery, it will be chartered out to Maersk Oil and Gas for deployment in the North Sea.

Hercules North Sea is a subsidiary of Nasdaq-listed Hercules Offshore which specialises in jack-up drilling and lift-boat services with a fleet of 36 jack-up rigs and 24 liftboats.

This latest contract helps boost Sembcorp Marine's total new orders secured this year to S$1.93 billion.

Including this new contract, the Group's net order book stands at S$13.2 billion, with deliveries extending into 2019. 

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