The Singapore based company Sembcrop marine has received the first order for its new construction yard in Brazil. The order for an ultra-deepwater drillship, placed by Petrobras affiliate Sete Brasil is set to be worth US$ 792.5 million.
The drillship, based on the Jurong Espadon design, will be able to operate in water up to 10 000 ft deep with the capability of drilling to depths of up to 40 000 ft. Other features of the drillship include a large moon pool to allow for improved drilling operations, dynamic positioning capabilities, Azimuth thrusters, and accommodation for 180 personnel.
Wong Weng Sun, CEO of Sembcorp, stated that “this is a very significant milestone as this order not only represents the first drillship that our group is building for Brazil. But it is also the first project secured by our new shipyard in Aracruz.”
Wong Weng Sun also voiced hopes that this would just be the beginning of many such deals for the 82.5 ha. yard, which should have been completed by the end of 2014. These hopes were shared by the markets, which saw at 3.9% rise in Sembcorps stock valuation after the news was released.