Sembcorp Marine’s subsidiary Jurong Shipyard has secured a US$346 million contract to build a second semi-submersible well intervention rig for Helix Energy Solutions Group, Inc. (Helix), a market leader in subsea well intervention services.

Scheduled for delivery in mid-2016, the semi-submersible light well intervention rig will be built based on a design jointly developed by Sembcorp Marine Technology Pte Ltd (SMTP), a fully-owned Research & Development subsidiary of Sembcorp Marine, and Helix. Featuring the latest technology, the rig - named Q7000 by Helix - is an efficient purpose-designed platform with capabilities to perform a wide variety of tasks, including conventional and extended top hole drilling, subsea construction, decommissioning well intervention, coiled tubing operations and twin ROV deployment.

The Dynamic Positioning (DP) class 3 unit has the ability to operate in deepwater operations worldwide, including the North Sea and West of Africa.

Mr William Gu, General Manager of Offshore Division said “We are honoured that Helix has chosen to build their second semi-submersible well intervention rig with us. This repeat order is significant as it testifies as to their trust and confidence in our design and building capabilities in rigs with well intervention and subsea capabilities that are customised to meet this new growth segment of the market. We are committed to build on our partnership with Helix and to meet their stringent standards of quality, safety and reliability.”

Mr Owen Kratz, Helix’s President and Chief Executive Officer, said “We are pleased to work with our trusted partner Jurong Shipyard on this second unit of the semisubmersible well intervention rig, to be named Q7000.”
The above is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Sembcorp Marine for the year ending December 31, 2013.

About Jurong Shipyard
Jurong Shipyard, a fully-owned subsidiary of Sembcorp Marine, is a leading shipyard offering integrated services and customised solutions in ship repair, shipbuilding, ship conversion, rig building and offshore engineering to a world-wide clientele. Apart from its proven track record in the building and servicing of jack-up and semi-submersible rigs, Jurong Shipyard is also a global leader in the EPC conversion of tankers to floating production storage and offloading vessels (FPSOs), floating storage tankers (FSOs) and floating production units (FPUs).

About Sembcorp Marine
Sembcorp Marine is a leading global marine and offshore engineering group with 50 years of experience and proven capabilities in repair, specialized shipbuilding, building of high-specification jack-up rigs, fast-track construction of ultra-deepwater semisubmersible rigs, conversion of floating production and storage facilities as well as the engineering and construction of offshore platforms.
Headquartered in Singapore, it has a network of five shipyards in Singapore – Jurong Shipyard, Sembawang Shipyard, SMOE, PPL Shipyard and Jurong SML – with strategic presence spanning Indonesia, China, India, United Kingdom and Brazil. The Group’s 73.3-hectare Integrated New Yard @Tuas in Singapore has commenced operations in August 2013.