Keppel, Consortium Secure Jackup Contract

(Press Release)
Tuesday, July 10, 2012

Keppel Kazakhstan LLP (Keppel Kazakhstan) and its consortium partner Ersai Caspian Contractor LLC, Kazakhstan (Ersai Caspian Contractor), have secured a contract from Teniz Burgylau LLP (Teniz Burgylau), an indirect wholly-owned subsidiary of JSC NC "KazMunayGas" (KazMunayGas) of Kazakhstan, for a KFELS B Class jackup rig worth US$242 million.

Scheduled for delivery in 1Q 2015, the jackup rig will be deployed in the Caspian Sea when completed. The work scope of the rig will be shared equally among the two members of the consortium. According to the Oil and Gas Journal dated January 2010, Kazakhstan's proven oil reserves was estimated at 30 billion barrels and its natural gas reserves at 85 trillion cubic feet.

Mr Chow Yew Yuen, Chief Operating Officer of Keppel Offshore & Marine (Keppel O&M) which is a 50% shareholder of Keppel Kazakhstan, said, "We are pleased that Kazakhstan's Teniz Burgylau has placed their confidence in our yard in Kazakhstan and in our proven KFELS B Class design. With Kazakhstan's vast oil and gas reserves, our yard in Kazakhstan, which has been operating in Aktau since 2003, stands ready to support the country as it unlocks and realises its production potential.

"Together with our consortium partner, we at Keppel look forward to delivering a high quality rig to Teniz Burgylau safely, on time and within budget. With 34 rigs in operation and another 19 on order, the KFELS B Class design has been the rig of choice for drilling."

Mr Nurlan Bekzhanov, General Director of Teniz Burgylau said, "Kazakhstan aims to steadily increase its oil and gas production to become one of the world's top oil and gas producers and exporters. Teniz Burgylau is grateful to its shareholders KazMunayGas and KazMunayTeniz for the given opportunity to contribute towards this target by stepping up our drilling operations. For our rig, we have decided on the KFELS B Class jackup design as it is an industry benchmark for such rigs. With the established track record of Keppel O&M as the world's leading offshore rig designer and builder, and its presence in Kazakhstan, we believe we have chosen the right partners to provide our first jackup drilling rig."

This KFELS B Class jackup, designed for the Caspian Sea, is able to operate in water depths of 262 feet, upgradeable to 400 feet, and can drill to depths of a maximum of 20,000 feet. This rig will incorporate Keppel's advanced and fully-automated high capacity rack and pinion elevating system, and Self-Positioning Fixation System. It will provide maximum uptime with reduced emissions and discharges.

Keppel Kazakhstan's track record of projects include the fabrication of a series of Pipe Rack Modules, Pontoons, Hook Up Structures and the building of seven Ice Class Self Ballasting Transportation Barges for Agip Kazakhstan North Caspian Operating Company (Agip KCO), for the Kashagan field development. Keppel Kazakhstan is also the first yard to launch a steel floating vessel into the Caspian Sea in Kazakhstan.

The above contract is 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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Petrobras P-66 Platform Module to Boost Production

The P-66 platform’s first modules, built at the Tomé Ferrostaal Consortium’s Module Plant located at the Port of Maceió, Alagoas, are now ready and loaded on the São Tomé barge.

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

Contracts

Teekay Renews Hull and Propeller Monitoring for LNG Carriers

Canada-based shipping company Teekay Corporation has renewed its contract with Propulsion Dynamics for its hull and propeller performance monitoring system CASPER Service.

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Vale Financials Disappoint; Iron Ore Prices, Currency Cited

Brazil's Vale posted a surprise loss of $1.44 billion on Thursday, hurt by a fall in the price of iron ore, higher production costs and a weakening Brazilian currency.

Shipbuilding

Seaspan Takes Delivery of 5th 10000 TEU Containership

Seaspan Corporation announced yesterday that it accepted delivery of a 10000 TEU containership, the MOL Brightness. The new containership, which was constructed

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Petrobras P-66 Platform Module to Boost Production

The P-66 platform’s first modules, built at the Tomé Ferrostaal Consortium’s Module Plant located at the Port of Maceió, Alagoas, are now ready and loaded on the São Tomé barge.

Ship Repair & Conversion

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

Minimize the Risks, Think Cold Bonding

Cold bonding: a safer alternative to hot work Hot work required for welding, grinding and cutting operations presents certain potential hazards when conducted

Goltens Opens Houston Service Facility

Goltens Worldwide today announced the opening of its new full service facility located within two miles from the Port of Houston. Following months of planning and machinery and equipment installation,

Ship Sales

Hyundai Heavy Plummets to Worse Loss Ever

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its

Danaos Corp. 3Q & 9M Results

Danaos Corporation, a leading international owner of containerships, today reported unaudited results for the period ended September 30, 2014. Highlights for

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Finance

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

Confidence High in UK Logistics Sector

The latest U.K. Logistics Confidence Index commissioned by Barclays and Moore Stephens reveals that confidence in the U.K. logistics sector remains high but more

Statoil Invests $1.5b in US Offshore Project

Statoil together with co-owners in the Stampede development in the Gulf of Mexicohas sanctioned the Stampede project in the U.S. Gulf of Mexico. Statoil said it will invest $1.

Energy

Petrobras P-66 Platform Module to Boost Production

The P-66 platform’s first modules, built at the Tomé Ferrostaal Consortium’s Module Plant located at the Port of Maceió, Alagoas, are now ready and loaded on the São Tomé barge.

Marine Renewable Energy Testing Facility in Singapore Mooted

ClassNK has launched of a feasibility study for a new marine renewable energy testing facility to be built in Singapore. The announcement was made at the 2014

Easing US Oil Export Ban Unlikey to Raise Gasoline Prices

A government study on Thursday essentially supported the notion that easing the decades-old restriction on exporting U.S. crude was more likely to lower than raise

 
 
Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.2469 sec (4 req/sec)