Keppel FELS Gets New Rig Order

Monday, January 03, 2005
Keppel FELS Limited secured a $110 million contract to build a jackup rig for Petrovietnam Drilling & Well Services Company (PV Drilling). Mr Tong Chong Heong, Managing Director and COO of Keppel O&M, shared, “We are honoured to be the builder of choice for PV Drilling.

“Keppel FELS’ relationship with PV Drilling’s parent company, PetroVietnam, goes back some 20 years when we delivered Vietnam’s first rig, Tam Dao, to Vietsovpetro in 1988.

“We are pleased to have secured this new contract after a long bidding period, the country’s second newbuilding project. The job will also put us in a strong position to continue to participate in PV Drilling’s newbuilding programme as they expand their fleet.

“We look forward to building a successful partnership with PV Drilling, as well as strengthening Keppel’s long-term relationship with PetroVietnam.”

Vietnam Oil and Gas Corporation (PetroVietnam) is Vietnam’s national oil company. The country is important to world energy markets because of its potential to become a regional oil and natural gas supplier. With over 600 million barrels of proven oil reserves, ongoing exploration has led to several oil and gas discoveries in recent years. The country has six operating oil fields of which Bach Ho (White Tiger), Rang Dong (Dawn), Hang Ngoc, and Dai Hung (Big Bear) are four of the largest.

PV Drilling’s spokesperson said, “For PV Drilling’s first newbuilding project, we selected Keppel FELS yard for its proven rig-building track record and reputation for reliability and quality.”

The new jackup, a KFELS B class design customised to client’s requirements, will be capable of operating in 90 metres water depth and drilling depth of 20,000 feet, with accommodation for 110 men.

Upon completion in the first quarter of 2007, it will be deployed offshore Vietnam.

With the new order, Keppel FELS will have successfully clinched six KFELS B class contracts since 2004. This also brings the number of KFELS B Class rigs in operation and under construction to 12 since its introduction in year 2000.

Keppel FELS is the world leader in the design and construction of jackup rigs, having built 60% of the world’s fleet on order in the last decade. In 2004, the company managed to secure all rig projects and cash jobs it bidded on tender, from both national and international drilling contractors.

Its parent company, Keppel O&M is a global leader in offshore rigs and ship conversion and repair as well as a specialised shipbuilder. Keppel O&M’s near market, near customer strategy is bolstered by a global network of 16 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be a provider of choice and a partner in solutions for the offshore and marine industry.

PV Drilling is a wholly-owned subsidiary of PetroVietnam. The former specialises in drilling, manpower provision, well services, tubular inspection and other services related to drilling activity.

Vietsovpetro is a Vietnam-Russia joint venture that carries out research, exploration and production of oil and gas on the Vietnam continental shelf. It also owns and operates the Tam Dao rig built by Keppel FELS in 1988.

The contract is not expected to have material impact on the net tangible assets and earnings per share of Keppel Corporation for the financial year 2005.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Container Ship Delivers First Boxes to Great Lakes Port

The US Coast Guard say that the 'Fortunagracht', a 450-foot Dutch-flagged container ship, has delivered the first-ever load of containerized cargo to the Great Lakes.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Tanker Trends

Pirates Approach Tanker in Bab El Mandeb

The U.S. Navy Maritime Liaison Office in Bahrain (MARLO) has advised that on or about 12:30 UTC on 14 April, the Master of an oil tanker reported being approached by a white-blue skiff in position 12.

Shippers Turn to Equity Markets as Sector Eyes Recovery

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

YPF Tenders to Buy Fuel Oil for June

State-run oil company YPF launched its second fuel oil tender in April, this time to buy two 50,000 metric ton cargoes (some 375,000 barrels each) to be received

 
 
Maritime Contracts Maritime Security Maritime Standards Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1162 sec (9 req/sec)