Sembcorp Marine's new contracts now worth S$8bn

Sembcorp Marine just secured a contract to build 5 drillships at US$4.032bn.

According to Nomura, Sembcorp Marine announced on 8 August that the group secured total contracts worth US$4.032bn to design and construct five drillships based on Jurong Shipyard’s proprietary Jurong Espadon drillship design. Based on the contract value, this works out to US$806mn per drillship.

Here's more from Nomura:

Together with the US$792.5mn contract that the group announced in February to build its first drillship for Sete Brasil, the group has six drillships to deliver from 2Q15 to 2Q19, based on its stated delivery schedule. The drillships will be capable of operating at 10,000ft water depth and drilling to depths of 40,000 ft.

As with Keppel, the rigs will be chartered to Petrobras for 15 years, with three drillships operated by Odfjell and other three by Seadrill. According to SMM, the six drillships represent the next generation of high specification drillships, and will be among the first in a series of drillships to be built in Brazil to cater to the offshore giant pre-salt fields of the Santos Basin.

Including its 5 drillship contracts, Sembcorp Marine has secured an estimated S$8bn in new contracts.