SEMBCORP MARINE’S JURONG SHIPYARD SECURES A US$568 MILLION CONTRACT

Singapore, April 3, 2012: Sembcorp Marine’s subsidiary Jurong Shipyard has secured a US$568 million contract to build a harsh-environment ultra-deepwater semi-submersible rig from North Atlantic Drilling Limited, a 74 percent owned subsidiary of Seadrill Limited (“Seadrill”).

The new rig will be constructed based on the Moss Maritime CS60 design – an enhancement of the Moss Maritime CS50E MKII harsh-environment ultra-deepwater semi-submersible rigs West Pegasus and West Leo which were delivered by Jurong Shipyard to Seadrill in March 2011 and January 2012 respectively. Delivery is scheduled no later than the first quarter of 2015.

This new ultra-deepwater harsh-environment semi-submersible rig will be built for a water depth rating of 10,000 feet with a maximum drilling depth of 40,000 feet. It will be an N-Class compliant 6th generation rig capable of maintaining position dynamically in deepwater and with thruster assisted mooring in shallow water in the North Sea and the Barents Sea. The rig is also engineered and winterized to carry out year-round drilling operations in such areas.