Keppel Deliver KFELS B Class Jackup

Monday, April 24, 2006
Keppel FELS Limited (Keppel FELS) will deliver a jackup to a wholly-owned subsidiary of SeaDrill Management (SeaDrill) on time and within budget. This is the third KFELS B Class rig that Keppel has completed within the first four months of 2006.

During the christening ceremony of the jackup on April 21, 2006, Mr Choo Chiau Beng, Chairman & CEO of Keppel Offshore & Marine Limited (Keppel O&M), shared with the 300-strong guests, “The on-time delivery of the jackup is a showcase of the good management and execution of Keppel FELS. Its open and transparent communication and close co-operation with SeaDrill have immensely contributed to the success of the project.”

This rig is the first of four jackups that Keppel FELS is building for SeaDrill. Construction of the other three rigs is progressing well in accordance to schedule. Their expected deliveries are between mid 2007 and second quarter 2008.

Keppel FELS secured the first jackup contract in March 2004 with Odfjell Drilling, which ordered a second rig in March 2005. In mid 2005, SeaDrill acquired Odfjell Invest Ltd, the holding company for the rigs. The right to exercise Odfjell’s option to a third rig was then assigned to SeaDrill. The fourth jackup rig order was made by Seatankers Management Co. Ltd, which also assigned its rights to the rig to SeaDrill.

The rig was named SEADRILL 3 by Mrs Chantal Guys, wife of Guest-of-Honour Mr Philippe Guys, Vice President of TOTAL E&P, under the evening sky amid a fanfare of Norwegian themed cultural performances at Keppel FELS Pioneer yard.

Upon its delivery in May 2006, SEADRILL 3 will be engaged by TOTAL and deployed in Nigeria for two years. It will be capable of operating in 350 feet water depth, drilling down to 30,000 feet and accommodating 110 men.

Built to the tried and tested KFELS B Class design, SEADRILL 3 will join the ranks of seven other such rigs operating in different parts of the world. Currently, another 19 KFELS B Class rigs are under construction at Keppel FELS and one in Keppel AmFELS. This represents a total market share of 46% drilling jackups on order being built to the KFELS B Class design.

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