Sembcorp Marine’s subsidiary PPL Shipyard has won a contract from BOT Lease, a leasing company of The Bank of Tokyo-Mitsubishi UFJ, which is under the umbrella of Mitsubishi UFJ Financial Group, to build a jack-up drilling rig.

The value of the contract is worth $220.5m.

PPL will construct the drilling rig based on its proprietary Pacific Class 400 design, which represents the high-specification jack-up rigs that are capable of operating in deeper waters of 400ft and drilling high pressure and high temperature wells to depths of 30,000ft.

Japan Drilling will support the company in the project work and will provide the project management team during the rig construction phase.

PPL Shipyard managing director Douglas Tan said BOT Lease along with Japan Drilling has selected its proprietary Pacific Class 400 series design for the rig.

"Since the launch of this Pacific Class 400 series, twelve such jack-ups have been ordered with six units delivered and operating in West Africa, Gulf of Thailand, Qatar and Middle East," Tan added.

The new rig is scheduled to be delivered at the end of January 2015.