EXECUTIVE SUMMARY

Prinsip Offshore Drilling International is a relatively young but energetic offshore drilling contractor who aspires to be a leader in the challenging sector of offshore drilling.

The principal stakeholders of the company have a combined wealth of experiences in planning, executions and operations of drilling contracts.

Collectively, the senior personnel in the organisation have drilled in waters around South East Asia, Middle East and in the harsh Norwegian and UK sector, operating on drillships, jackups and semi-submersibles.

By mid-2016, our Explorer I, which is a modified LeTourneau Super 116E jack-up, will be ready for deployment. It is designed and built as an Ultra-Premium Class Jack-Up rig rated to work up to 350 feet of water depth and a drilling depth up to 30,000 feet. Except for the harsh Norwegian sector, the LT116E has footprints in many parts of the world.

In the near future, we will have assets such as liftboats, MPSVs, drillships, jackups and semi-submersibles added into our list of assets.

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