Sembcorp Marine to Build Another Jackup for Awilco

PPL Shipyard, a subsidiary of SembCorp Marine has signed a rig building contract worth US$121 million with Wilsuperior Ltd, a subsidiary of Awilco Offshore ASA for the construction of a Baker Marine Pacific Class 375 Deep Drilling Offshore Jackup Rig. The Construction Contract is an option that PPL Shipyard granted to Awilco Offshore ASA in May 2004 and which the later has now decided to exercise.