Keppel Wins $270M Contract from GlobalSantaFe

Thursday, March 02, 2006
Keppel FELS Ltd (Keppel FELS) has secured a contract with GlobalSantaFe Corporation (GSF) to build an ultra-deepwater drilling rig for $270 million.

Under the contract agreement, GSF will supply the drilling and sub-sea equipment while Keppel FELS provides the design, engineering and construction of the hull as well as the accommodation quarters for 180 men and marine equipment.

The rig, to be named the GSF Development Driller III, is scheduled for delivery in the first quarter of 2009.

GSF has chosen to build the state-of-the-art semisubmersible (semi) to the proprietary design, DSS-51, jointly designed and developed by Keppel’s Deepwater Technology Group (DTG) and Marine Structure Consultants (MSC).

Mr Choo Chiau Beng, Chairman and CEO of Keppel Offshore & Marine Limited, the parent company of Keppel FELS, said, “GSF and Keppel share a longstanding relationship which dates back to 1987. To date, Keppel FELS and GSF have co-operated and completed six new generation jackups that are still performing extremely well in the North Sea, Eastern Canada and South America.

“I am happy that we are now working on our first semi newbuild project together, and I am confident that the highly efficient DSS-51 rig will meet GSF’s charter commitment on time and within budget.”

Commenting on the demand for deepwater mobile drilling rigs, Mr Choo said, “The fundamentals for deepwater exploration and production are strong with consensus amongst operators, drillers and service providers that the market for exploration and production of hydrocarbons will be sustained over the next few years.”

Accordingly to ODS-Petrodata’s 12-monthly rolling forecast between February 2006 and January 2007, the demand for semisubmersibles is expected to rise from 141 to 167 units while the marketed supply remains inelastic from 152 to 153. Even as utilisation levels approach full capacity, global demand for the mobile offshore drilling units shows no sign of slowing down.

Said Mr Jon A. Marshall, President & CEO of GSF, “We are looking forward to working again with Keppel FELS on our newbuild semi. Keppel FELS has a track record of well designed and built rigs that have been delivered on schedule.

“In the last few years, GSF has sent a number of rigs to Keppel for repair and upgrading. They have been very responsive and professional. I am certain that the new semi will be a great addition to our fleet.”

The DSS-51 rig is maintenance-friendly with excellent safety features well suited for both exploration and development drilling as well as workover operations. With a dynamically positioned system (DPS 2), it can drill wells down to 10,000 m (30,000 ft) and operate in water depths of up to 3,048 m (10,000 ft) in environments such as offshore Brazil, the Gulf of Mexico, West Africa and South East Asia.

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

Offshore

DNV GL Publishes Regulatory Roadmap for Floaters in the US

DNV GL announced it has mapped out what is necessary to be in compliance with U.S. Coast Guard (USCG) requirements to operate FOIs, FSOs and FPSOs in U.S. waters.

Second Typhoon Threatens Taiwan

The Taiwan military was collecting and distributing sandbags to guard against possible flooding on Tuesday as a typhoon bore down on the island after brushing the Philippines.

Shipbuilders Vard Report Financial Fair Sailing

Designers and shipbuilders of offshore and specialised vessels, Vard Holdings, has announced its financial results for the second quarter of financial year 2014 (“2Q2014”),

Ports

Mitsubishi to Build Diesel Oil Import Terminal in Australia

Japanese trading house Mitsubishi Corp said it is entering Australia's diesel market by building a $103 million gas oil import terminal to tap growing demand and

AAPA Elect Kristin Decas as Next Chairman

The American Association of Port Authorities (AAPA) informs it has elected Kristin Decas, CEO and port director for the Port of Hueneme (Calif.) as its incoming

Panama Canal: New Lock Gates Transferred to Atlantic Side

ACP informs that the Panama Canal Expansion has reached another important milestone with the transfer of the first gates to the new locks complex in the Atlantic side.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1845 sec (5 req/sec)