Keppel to Build Two Jackups for Clearwater

Monday, January 24, 2011

Keppel FELS Limited (Keppel FELS) has secured new orders from Clearwater Capital Partners, LLC (Clearwater) to build a pair of premium KFELS B Class jackup rigs at $360m. The two high specification jackups are scheduled for delivery in 1Q 2013 and 2Q 2013 respectively.

As part of the agreement, Clearwater has options to build another two similar jackup units with Keppel FELS. If exercised, the options for the additional two rigs will bring the total contract value to above $730m.

Rob Petty, Managing Partner and Co-Founder of Clearwater, said, "Confidence is rapidly returning to the offshore industry and we expect a fundamental recovery of the sector. There is a clear bifurcation in the jackup market with oil companies increasingly focused on new, high specification rigs for their projects. We have followed this market closely and chose Keppel FELS as our long term partner to help us execute our investment plans in the transition of the jackup market from old rigs to safer, more efficient rigs.

The KFELS B Class jackup design is developed by Keppel's technology arm, Offshore Technology Development. When completed, Clearwater's rigs will be able to operate in water depths of 400 feet, drilling depth of 30,000 feet and accommodate 150 men. The new contracts with Clearwater are not expected to have material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.
 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

BAE Systems to Expand San Diego Shipyard

BAE Systems announced it will invest approximately $100 million to expand drydocking capabilities at its San Diego shipyard.   The investment, which will include

Schmiedag and Wildauer Schmiedewerke: 'We Forge Partnerships'

Olaf Wiertz, Sales Director at Schmiedag GmbH (SDG) and Wildauer Schmiedewerke GmbH & Co. KG (WSW) said: “We are more than just a supplier to our customers – we are their partner.

Turkey Maritime Sector Alive & Kicking

Located on the periphery of two great continents, Turkey has benefitted from being in a favored position right at the center of an assertive and fast growing economic area.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1206 sec (8 req/sec)