Sembcorp Marine’s subsidiary Jurong Shipyard has secured two turnkey contracts with a combined value of up to US$400 million ($525.2 million) to build two jackup rigs with options for another four jackup rigs from a subsidiary of Noble Corporation.

If all four of the options are exercised, the total estimated value of the six jackup rigs is expected to be in the region of US$1.2 billion.

Scheduled for delivery in the fourth quarter of 2012 and second quarter of 2013 respectively, these two new turnkey units will be built based on the upgraded Friede & Goldman JU2000E design to be named Friede & Goldman JU3000N. These rigs will be suitable for operations in many challenging environments, including high temperature areas such as the Middle East and in the North Sea.

The new JU3000N design is the result of the combined development efforts of Jurong Shipyard, Noble and Friede & Goldman in creating an enlarged hull that will offer more operational benefits, including ergonomic and efficient accommodation layout, increased deck space and placement of equipment that will allow the crew to efficiently and safely carry out maintenance duties. On completion, these new rigs will be capable of operating in waters of 400 feet and drilling depths of 30,000 feet.