Figure 8: Jackup rig projects awarded since mid-2010 – 34 firm orders and 29 options yet-to-be-effective

Date Shipyard Project Client Delivery Value Confirm Option Remarks

outstanding
28-Jul-10 Lamprell Two premium jackup National 2Q2012 US$317m 2 2 Plus options for two to
rigs; Le Tourneau Drilling Co, be declared 12 mths
Super 116E Abu Dhabi from 01 Aug 10
05-Oct-10 PPL Two premium jackup Atwood Sep 2012, US$364m 2 2 Plus three options.
Shipyard rigs - Pacific Class Oceanics Dec 2012 One exercised in Jan
400 - Atwood Mako, 2011. Options require
Atwood Manta commitments from 90
days to 15 mths
18-Oct-10 Jurong Two premium jackup Seadrill 4Q2012, US$384m 2 4
Shipyard rigs - F&G JU2000E 1Q2013
02-Nov-10 ABG F&G JU2000A Drilling and Not US$440m 2
Shipyard Offshore disclosed
15-Nov-10 Dalian F&G JU2000E Seadrill 4Q2012, US$360m 2 2
Shipbuilding 1Q2013
16-Nov-10 PPL Sale of one jackup rig Transocean 4Q2011 US$195m 1
Shipyard - prototype unit being
marketed Pacific
Class 400 design
18-Nov-10 Lamprell Le Tourneau Super Eurasia 4Q2012 1
116E Drilling
(Russia)
25-Nov-10 Keppel One premium jackup Standard 2H2012 US$180m 1 2
rig; KFELS B Class Drilling
design
02-Dec-10 Keppel Two premium jackup Mermaid's 2012, US$360m 2 2
rigs; KFELS B Class Asia 2013
design Offshore
Drilling
14-Dec-10 Dalian F&G JU2000E Prospector 4Q2012, 2
Shipbuilding Offshore 1Q2013
Drilling
22-Dec-10 Keppel One premium jackup Jasper 2H2012 US$180m 1 1 Plus option for one
rig; KFELS B Class Investment more at US$185m.
design Before 20 Mar 2011
US$180m. After 21
Mar and before 21
Jun 2011, US$185m.
22-Dec-10 Jurong Two premium jackup Noble 4Q2012, US$400m 2 4
Shipyard rigs - F&G JU3000N 2Q2013
(an upgraded version
of the JU2000E
version)
20-Jan-11 PPL One jackup rig - Atwood end June US$182m 1 Exercised first option
Shipyard Pacific Class 400 - Oceanics 2013 granted in Oct 2010
Atwood Orca
23-Jan-11 Keppel Two high spec jackup Clearwater 1Q2013, US$360m 2 2
rig KFELS B Class Capital 2Q2013
design
27-Jan-11 Keppel Two harsh Discovery 1H2013, US$416m 2 2
environment jackup Offshore 2H2013
rigs KFELS Super A
Class design
10-Feb-11 Keppel Two harsh Ensco 2Q2013, US$440m 2 2 Options to be
environment jackup 4Q2013 declared by 02 Aug
rigs Enhanced KFELS 2011.
Super A Class design
15-Feb-11 Keppel Two harsh Maersk end-2013, ~US$1b 2 1 Plus option for one
environment jackup second more to be declared
rigs Gusto MSC CJ70 unit seven in Jul 2011
design mths later
17-Feb-11 Keppel Two high spec jackup Transocean 2H2012 US$380m 2 3
rig KFELS Super B
Class Bigfoot design
22-Feb-11 Lamprell Le Tourneau Greatship 4Q2012 1
Enhanced Super Global
116E
07-Mar-11 Keppel One premium jackup Perforadora 1Q2013 US$195m 1
rig; LeTourneau Central
Super 116E design
15-Mar-11 Keppel One premium jackup Japan 1Q2013 US$210m 1
rig KFELS Super B Drilling Co
Class design
Source: Upstream, Various company data and DMG estimates

OSK Research
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DMG
OSK Research 5
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DMG Research
 Still-high Enquiries from Oil Majors and Asset Owners; We estimate
more than US$5b visible orders to be awarded
Various oil majors and offshore asset owners have explored the market for quotations on
newbuild rigs, FPSO and vessels. Judging from the news flow in numerous oil and gas news
publications, we estimate that there are more than US$5b worth of visible contracts to be
awarded and we think the offshore & marine sector will continue to see big order wins in the
next six to 12 months.

Figure 9: Prospective jobs in the pipeline

Customer Project description Possible bidders Declined Remarks
ONGC Five bidders are bidding for a FPSO M3nergy, Bumi Sevan Marine, Pipavav Singapore yards could be
for D1 field with 50,000 bpd of oil and Armada, Mercator, Shipyard, Technip, selected to perform FPSO
crude storage capacity of 250,000 bbl Teekay Petrojari, Saipem, Fred Olsen, conversion work
Tanker Pacific Bluewater Offshore,
SBM, Rubicon
Offshore, Compass
Energy
Capital Ship Management Looking at options to build two 400-ft PPL Shipyard To be managed by a
Corporation (CSMC) jackup rigs (believed to have a drilling contractor with GoM
Letter of Intent) experience and targeted
for contracts with Pemex
Vietsovpetro, A russian- Looking for one deepwater drilling rig
Vietnamese joint venture with a budget of US$600m. Rig
capable to drill up to 10,000 ft. Could
be semi-submersible or drillship.
Gulf Drilling International, Has started talks with Singapore and
Qatar Petroleum linked UAE yards for two jackup rigs
company
SapuraAcergy Plans to build a second derrick Yard selection in April
pipelay vessel and could potentially 2011. Set aside US$400m
add a third heavylift construction for the two DP3 vessels.
vessel. One unit is a S-lay with 1,200-
tonne crane.
Petrovietnam Technical Supply of a FPSO for the Thang Long Tanker Pacific, Tender documents ready
Services Corp (PTSC) and Dong Do oilfields. Modec, BW Offshore, to issue in 2Q11. Yards
Bumi Armada, MISC, could be selected to carry
SBM Offshore, Fred out FPSO conversion work
Olsen
Saudi Aramco Potentially looking at five new jackup Decision on orders to be
rigs placed soon
Odfjell Drilling One unit of harsh environment jackup
rig CJ70
Rowan Looking to high-grade its fleet of
jackup rigs
Seadrill Potential order for one CJ70 jackup Jurong Shipyard
rig.
Vantage Drilling At least one 400-ft jackup rigs
KS Energy Two 375-ft jackup rigs
Jindal Drilling Two 350-ft jackup rigs
Frigstad D90 semi-submersible rig
Statoil Two specialised mid-water semi- Daewoo, Samsung, Aims to award in 3Q11 and
submersible rigs Cat D Keppel and Jurong completion targeted at
2H2014
Statoil Category B semi-submersible rig Helix-Daewoo,
Saipem-Samsung,
Aker-Keppel
Source: Upstream, various company data and DMG estimates

OSK Research
See important disclosures at the end of this publication
DMG
OSK Research 6
See important disclosures at the end of this publication

DMG Research