PPL Shipyard Sells Drilling Rig

9 December 2009 (Last Updated December 9th, 2009 18:30)

PPL Shipyard in Singapore, a subsidiary of SembCorp Marine, has sold a seadrill jack-up drilling rig to Vietnamese national oil company Vietsopetro. The ex-West Elara is a Pacific 375 deep drilling design rig and was one of two jack-ups on order for the John Fredriksen-controlled drilling con

PPL Shipyard in Singapore, a subsidiary of SembCorp Marine, has sold a seadrill jack-up drilling rig to Vietnamese national oil company Vietsopetro.

The ex-West Elara is a Pacific 375 deep drilling design rig and was one of two jack-ups on order for the John Fredriksen-controlled drilling contractor.

PPL exercised its right to take ownership of the rig in October in return for handing back $10.75m or half of the deposit paid up on the rig.

PPL said construction of the rig is in progress with the scheduled delivery in the third quarter of 2010.