DALLAS, April 5 /PRNewswire-FirstCall/ -- ENSCO International Incorporated
(NYSE: ESV) announced that the Company has entered into a letter of intent
with Keppel FELS Limited in Singapore for construction of a new high
performance premium jackup rig. The shipyard contract price for the rig will
be approximately $117 million, and will be a replacement for ENSCO 64, which
was heavily damaged by Hurricane Ivan in September 2004. The new rig is
expected to be delivered by the end of the first quarter of 2007.
The new premium jackup rig, to be named ENSCO 108, will be an enhanced
KFELS MOD V (B) design modified to ENSCO specifications. The rig is a sister
rig to ENSCO 106, now operating in Australia, and ENSCO 107, which is expected
to be delivered in late 2005. The transaction is subject to execution of a
definitive construction contract.
Statements contained in this news release that state Company or management
intentions, hopes, beliefs, anticipations, expectations or predictions of
future events are forward-looking statements. Such forward-looking statements
include references to the expected delivery date and cost of the ENSCO 108.
It is important to note that the Company's actual results could differ
materially from those projected in such forward-looking statements. The
factors that could cause actual results to differ materially from those in the
forward-looking statements include the following: (i) failure to consummate a
definitive construction contract for ENSCO 108, (ii) delay in the anticipated
delivery date of the ENSCO 107 or the ENSCO 108, (iii) actual cost of the new
rig building program, (iv) rig construction risks, (v) risks associated with
operating and shipbuilding in foreign jurisdictions, (vi) force majeure
events, (vii) renegotiation, nullification, or breach of contracts, and (viii)
the risks described from time to time in the Company's SEC filings. Copies of
such filings may be obtained by contacting the Company or the SEC.
The Company disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements to reflect any change
in Company or management expectations or any change in events, conditions or
circumstances on which any such statements are based.
ENSCO, headquartered in Dallas, Texas, owns and operates a modern fleet of
offshore drilling rigs servicing the petroleum industry on a global basis.
SOURCE ENSCO International Incorporated
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Related links:
http://www.enscous.com
CONTACT:
Richard LeBlanc of ENSCO International
Incorporated, +1-214-397-3011
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