Dubai/ Graha, December 3, 2008: Drydocks World - Graha, the rig building yard under Drydocks World operating on the island of Batam, Indonesia, successfully launched late last month its second jack-up rig, Hull No. L202 Perro Negro 6.

L202 Perro Negro 6 is a new generation MSC CJ46 X100D Mobile Offshore Drilling Rig with the capability of drilling at 350ft -30,000ft water depth. It is equipped for high pressure high temperature (HPHT) drilling environment, large VDL, bigger deck space with 70ft and 20ft X-Y cantilever and installed with automated pipe racking system. Owned by Milan-listed Saipem, L202 Perro Negro 6 conforms to the latest standard of mobile offshore drilling rig requirements.

"Another historical milestone has been achieved when Hull L202, Perro Negro 6 was successfully launched for Saipem. This was accomplished through the hard work and dedication of the entire Drydocks World - Graha team, the client's site team and our vendors and partners," Geoff Taylor, Chief Executive Officer of Drydocks World, said.

"Drydocks World - Graha has once again proven itself to be capable of meeting the highest technical standards required to build sophisticated offshore rigs and the learning curve will extend over the remaining projects in our order book and beyond, as we attract more offshore business to our specialist yard which we continue to expand" he added.

L202 Perro Negro 6 is only the second rig to have been launched from an Indonesian yard, both from Drydocks World - Graha, about 20 kilometres from Singapore. It is the second in a series of four identical mobile offshore drilling rigs ordered by Standard Drilling being built by Drydocks World - Graha.  Also currently under construction are two MSC designed Sea Jacks for Master Marine ASA.

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© Press Release 2008