News Release 2009

NEWS

News Release 2009

2009-12-17 JDC was listed on the First Section of Tokyo Stock Exchange

JDC is listed on the First Section of Tokyo Stock Exchange(TSE) today. Accordly, the IR pages of JDC website was updated.

2009-12-17 Drilling Contract with BG Tunisia for "HAKURYU-10"

JDC signed a drilling contract with BG Tunisia on November 20th, 2009 for the jack-up rig "HAKURYU-10". The contract is to drill one (1) Firm well and one (1) Optional well offshore Tunisia.

2009-11-13 JDC was approved to be listed on the Tokyo Stock Exchange market

Today, JDC received a notice from the Tokyo Stock Exchange (TSE) stating that the TSE approved JDC's application for listing on the TSE market (The section of the market has not been decided).

2009-11-13 JDC relaunched IR website

2009-07-28 Drilling Contract with UTE ACS COBRA CASTOR for "HAKURYU-10"

JDC signed a drilling contract with UTE ACS COBRA CASTOR on July 28th for the jack-up rig "HAKURYU-10". The contract is for Firm 12 wells + 1 re-entry and Optional 2 wells to be drilled offshore Spain. The drilling operations are scheduled to start next summer.

2009-07-08 NAGA 1 achieved 3,000,000 Manhours No LTI Safety Record

The Semi-submersible rig "NAGA 1" operated by UMW JDC Drilling Sdn. Bhd., an affiliated company of JDC established in Malaysia, has achieved a remarkable safety record of 3 million manhours no lost-time incident (LTI) since June 6, 2000.

2009-06-25 JDC Announced Election of Its Board of Directors

JDC announced that eleven directors and one auditor were elected at the 41th Annual General Meeting of Shareholders held on June 25.

The directors re-elected are M/s Minoru Murata, Akio Kawase, Yuichiro Ichikawa, Noritada Takizawa, Hideto Takahashi, Hiromitsu Yamamoto, and Toshio Harada. Those newly elected are M/s Toshihiro Ohara, Norihiko Sawara, Tetsuo Kasukawa and Noboru Tezuka. The corporate auditor newly elected is Mr. Tsutomu Sugiura.

At the Board of Directors Meeting following the above Annual General Meeting, the following persons are appointed as follows:

Minoru Murata:President and Representative Director
Toshihiro Ohara:Representative Director and Vice President Executive Officer
Akio Kawase:Representative Director and Senior Managing Executive Officer
Yuichiro Ichikawa:Representative Director and Senior Managing Executive Officer
Noritada Takizawa:Director and Managing Executive Officer
Hideto Takahashi:Director and Managing Executive Officer
Hiromitsu Yamamoto:Director and Executive Officer
Toshio Harada:Director and Executive Officer
Norihiko Sawara:Director(External)
Tetsuo Kasukawa:Director(External)
Noboru Tezuka:Director(External)

2009-06-16 Participation in project for ultra-deepwater drillship to be chartered by Petrobras for pre-salt exploration

  • Nippon Yusen Kabushiki Kaisha
  • Mitsui & Co., Ltd.
  • Kawasaki Kisen Kaisha, Ltd.
  • Japan Drilling Co., Ltd.

Nippon Yusen Kabushiki Kaisha, Mitsui & Co., Ltd., Kawasaki Kisen Kaisha, Ltd., and Japan Drilling Co., Ltd. ("J4") announced today that J4 has agreed to participate in a project for an ultra-deepwater drillship to be chartered by Petroleo Brasileiro S.A. ("Petrobras") for pre-salt exploration. J4's aggregate participation accounts for the majority share of the project company, Etesco Drilling Services, LLC. ("EDS") of the United States, which was established by Etesco Construções e Comércio Ltda. ("Etesco") of Brazil, and the capital contribution was completed on June 12th with another foreign company.

In August 2008, EDS concluded, with Samsung Heavy Industries Co., Ltd. of South Korea, a construction contract for one drillship. After its delivery, scheduled for the end of January in 2012, EDS will start to provide charter service to Petrobras for a maximum of 20 years.

Total investment in the project amounts to approximately US$820 million, and EDS concluded a loan agreement for US$650 million on June 12th. The drillship will be chartered by Petrobras for ultra-deepwater exploration in pre-salt fields with a water depth of up to 10,000 feet (approximately 3,000 meters).

J4 seeks to contribute to Petrobras by participating in this drillship charter project for exploration for oil and gas in pre-salt fields in Brazil.

Notice:

This press release includes forward-looking statements about JDC. These forward-looking statements are based on the current assumptions and beliefs of JDC in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause JDC's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

For inquiries on this matter, please contact

Nippon Yusen Kabushiki KaishaMitsui & Co., Ltd.
Jun KatayamaMikako Sachigai
TEL: +81-3-3284-5188TEL: +81-3-3285-7596
FAX: +81-3-3284-6382FAX: +81-3-3285-9819

Kawasaki Kisen Kaisha, Ltd.,Japan Drilling Co., Ltd.
Toshiaki TakasakiKazuhiro Yoshinaga
TEL: +81-3-3595-5083TEL: +81-3-5847-5862
FAX: +81-3-3595-5001FAX: +81-3-5644-5701

EDS

Company NameEtesco Drilling Services, LLC
Establishment7 April, 2008
LocationUnited States
Maximum EquityUS$170 million
Shareholders(*)
Nippon Yusen Kabushiki Kaisha
Mitsui & Co., Ltd
Kawasaki Kisen Kaisha, Ltd.
Japan Drilling Co., Ltd.
33.70%
21.78%
20.00%
1.00%
J4 share in total
76.48%

Etesco Construções e Comércio Ltda.11.76%
Mike Mullen Energy Equipment Resource Inc.11.76%

*: Each shareholder's investment is made through its 100% SPC.

Overview

Total Investment AmountApproximately US$820 million
OverviewCharter service of ultra-deepwater drillship for Petrobras S.A.
TermFirm 10 years + Optional 10 years
EquipmentDrillship for ultra-deepwater exploration; up to 10,000 feet water depth
(Length: 228 m, Width: 42 m)
Operation & MaintenanceEtesco group company

Reference: Similar type of drillship for ultra-deepwater exploration

2009-05-15 JDC Reported Consolidated Results for Fiscal Year 2008

JDC announced consolidated net income of JPY3,503.4 million (US$34.9 million) for the fiscal year 2008 ended March 31, 2009 on consolidated total revenue of JPY21,168.4 million (US$211.1 million). Consolidated net income decreased by 55.7% compared to JPY7,921.3 million (US$69.7 million) in 2007, while consolidated total revenue rose by 9.9% compared to JPY19,251.2 million (US$169.4 million) in 2007. Consolidated ordinary profit was JPY5,316.5 million(US$ 53.0 million) decreased by 56.8% compared to JPY12,322.0 (US$108.4 million) in 2007. (Converted at JPY100.23/US$ for the fiscal year of 2008)

2009-03-27 "HAKURYU-5" started drilling operations offshore Vietnam

After completing the deepdish work at IHI Aichi shipyard in Japan, "HAKURYU-5" was towed to the offshore Vung-Tau, Vienam, and started the drilling operations of six wells and two optional wells for Premier Oil Vietnam South B.V. and other oil companies.

2009-03-16 JDC relaunched its English website

JDC relaunched its English website as of 16th, March.

2009-03-02 JDC received ISO 9001 and ISO 14001 certificates from ABS

The American Bureau of Shipping (ABS) has issued the certificates to the effect that JDC's HSQE Management System complies with the requirements of the following four international codes.

International Safety Management Code (ISM Code),
ISO 9001:2000 (Quality),
ISO 14001:2004 (Environmental Standard) and
OHSAS 18001:1999 (Occupational Health and Safety).

JDC is the first offshore drilling contractor to obtain integrated certification of all four international codes.

2009-02-02 Photo Library in JDC website