Perisai studying take-up rate for jack-up (0047)

Perisai Petroleum Teknologi Bhd, which recently acquired a drilling rig for US$208 million, wants to look at the
take-up rate and funding requirements for the first jack-up before opting for a second one.

Managing
Director Zainol Izzet Mohamed Ishak said the group has the option to
build a second jack-up, which would cost US$210 million, and it would
exercise that option by February next year.

"We are expecting
the drilling rig to be delivered by June 2014 and we expect the rig to
contribute handsomely when we put it to work," he told reporters after
the company's annual general meeting.

Zainol Izzet said the rig was one of the world's advanced rigs which could operate in 400 feet of water.






He said the group was expecting a big
growth in business this year, driven by contributions by the Rubicone
jack-up from Garuda Energy (L) Ltd and the eight offshore vessels from
Intan Offshore Sdn Bhd.

On drilling rig business, he said, the
group's primary market was Malaysia, but it aimed to be a regional
player, saying that the demand for drilling rigs and jack-ups was
strong and robust currently. -- BERNAMA