RIG Transocean Ltd

   By Chun Han Wong 
 

SINGAPORE--Sembcorp Marine Ltd. (S51.SG) said one of its units received from a Transocean Ltd. (RIG) subsidiary contracts worth a combined $1.08 billion to build two drillships.

Jurong Shipyard is due to deliver the drillships in the second quarter of 2017 and first quarter of 2018 respectively, Sembcorp said in a statement to the Singapore Exchange. Transocean has also taken options for an additional three drill ships, it added.

Transocean currently owns and operates six drilling rigs built by Sembcorp Marine's units, including two rigs built by Jurong Shipyard.

Write to Chun Han Wong at chunhan.wong@wsj.com

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