Keppel Completes Raissa

Monday, March 03, 2003
Keppel Offshore & Marine (Keppel O&M) Group has strengthened its participation in the inshore oil and gas drilling industry, with the successful completion of the Raissa, a posted submersible drilling barge for Indonesian drilling contractor PT Apexindo Pratama Duta Tbk. Keppel FELS Limited has earlier been chosen as the preferred partner for PT Apexindo’s drilling fleet build-up and enhancement. The Company signed the $29 million contract for Raissa in May 2002, followed by a refurbishment contract for drilling barge, Maera. Another similar newbuilding order for the Yani was signed in October last year. All three drilling units will be deployed in the inshore Tunu field, East Kalimantan, for TotalFinaElf Indonesia. Said Mr Choo Chiau Beng, Chairman and Chief Executive Officer of Keppel O&M, at the naming ceremony of Raissa held in Keppel FELS Pioneer Yard today, “I am happy that through the projects with PT Apexindo, we are able to offer fit-for-purpose solutions for enhanced drilling activities in Indonesia. “In so doing, we have strengthened our participation and track record in the growing markets of inshore drilling and will exploit opportunities in other shallow regions in Asia Pacific, USA, and northern parts of the Caspian Sea.” “Our investment in Raissa is one of significant strategic value for Indonesia's oil & gas industry. The industry's growth and sustainability in the long term is dependent on the on-going development of production infrastructure including drilling capabilities such as those of Raissa. “Raissa's construction and assignment to the gas fields of East Kalimantan also reflects the confidence of major international oil companies in Indonesia's continued global leadership in LNG production,” said Mr Hertriono Kartowisastro, President Director of PT Apexindo. Three Keppel yards, led by Keppel FELS Limited were involved in the construction of Raissa. Keppel FELS was involved in the engineering and project management of Raissa, and provided the expertise to build the cantilever and drillfloor structures. Keppel Singmarine built the main hull and upper decks, while Keppel Shipyard (Benoi) constructed the living quarters and the helideck. Showcasing high commitment to safety standards, the Keppel yards achieved more than one million man-hours without reportable accidents during construction. The construction of the 244-ft Raissa involved detailed engineering, fabrication and procurement as well as installation of the owner’s supplied equipment. It is capable of oil and gas exploration in water depth up to 7.62m (25 ft) and will have a drilling depth capability of 7,600m (25,000 ft). PT Apexindo Pratama Duta Tbk, is the first drilling contractor to be listed on the Jakarta Stock Exchange. The company specialises in both onshore and offshore activities. It owns 12 onshore drilling rigs after merging with PT Medco Antareja in December 2001. PT Apexindo currently owns and operates two submersible swamp barges contracted by TotalFinaElf Indonesie and one jack-up rig in the Middle East. Keppel Offshore & Marine (Keppel O&M) is a leader in offshore rigs, ship conversions & repair and specialised shipbuilding. It is the world leader in the design and construction of jack-up drilling rigs, having built most of the world’s jack-ups. It is also a leader in FPSO/FSO conversions and ship repair, and has reputed expertise in the building of specialised tugboats and supply vessels. The Keppel O&M Group has a network of 15 yards worldwide in Singapore, USA, Brazil, Azerbaijan, Philippines, UAE, The Netherlands and Norway.

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