Sinopec International (Hong Kong) has awarded PPL Shipyard a $229 million contract to build a PPL Shipyard Pacific Class 375 offshore jackup rig.
This is the first newbuild jackup rig to be constructed outside of China. Scheduled for delivery in 1Q 2011, the rig will be owned and operated by the Shanghai Offshore Petroleum Bureau, a subsidiary of China Petroleum & Chemical Corp. (Sinopec).
The rig will be built based on PPL Shipyard's proprietary design Pacific Class 375 and proprietary components. It will be equipped to drill high pressure and high temperature wells at 30,000 ft (9,144 m) while operating in 375 ft (114 m) of water. It will have accommodation with full catering and amenities for 120 persons.