Keppel FELS Signs Contract Worth US$1.2 Billion

Tuesday, December 04, 2012

Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has signed a contract with Ukraine's National Joint-Stock Company "Naftogaz of Ukraine" (Naftogaz), to construct two semisubmersible drilling rigs worth about US$1.2 billion. The contract will be effective upon final corporate approvals.


This follows an earlier announcement made on 21 November 2012 in relation to Keppel FELS being selected as winner of the tender to construct the two semisubmersible drilling rigs.


The rigs will be built to Keppel FELS' proprietary DSSTM 38U design which is customised for the Black Sea environment. The harsh weather conditions of the Black Sea include extreme freezing temperatures, storms with strong winds and heavy seas.


Durable grades of steel with increased thickness will form the basis of the structural design of the hull and pontoons of the rigs. They will have winterisation features such as machinery cladding, advanced heating systems to prevent equipment and pipe freezing as well as enhanced air conditioning for the living quarters.


Mr Wong Kok Seng, Managing Director (Offshore) of Keppel O&M and Managing Director of Keppel FELS said, "We are pleased to be chosen by Naftogaz to work on these two complex projects for the Black Sea. Having delivered two jackup rigs for the Black Sea, we understand the specifications necessary for rigs to work in such extreme conditions. "We have a suite of proprietary semisubmersible designs capable of operating in all frontiers. Coupled with our experience in building harsh environment rigs and the strong partnership we have built up with Naftogaz, we are confident of delivering robust, high quality rigs that will excel in operations in the Black Sea."


According to Ukraine's official estimates in 2011, the country boasts proven reserves of natural gas (1200 billion cubic meters) and oil and gas condensate (220 million tons).


Mr Evgen Bakulin, Chairman of Naftogaz, added, "The addition of these rigs to our fleet is part of our extensive programme to modernise our offshore exploration and production facilities. This will allow us to reach a new level of shelf development in the Black and Azov Seas, rapidly boost our oil and gas production and reduce our imports of natural gas.


"We selected Keppel FELS because they best met our tender requirements and they are a proven partner, having delivered two world class jackup rigs to us. The DSSTM 38U design is for us a new generation and cost effective rig with high specifications. We look forward to continuing this win-win partnership with Keppel as we grow our offshore capabilities."


Jointly developed and owned by Keppel's Deepwater Technology Group and Marine Structure Consultants, the DSSTM 38U design features the latest safety and environmental features. It will have double-skin columns for additional protection to machinery spaces in the event of a ship collision.


In addition, to facilitate safe handling of equipment, the rigs will be equipped with a separate blow-out preventer and "Christmas Tree" (used to control the flow of oil or gas out of the well). A compact, fit-for-purpose pipe handling system capable of performing offline stand building will enable it to handle drill pipes efficiently while drilling. The rigs will be equipped with a 2000 kips drilling derrick suitable for 30,000 feet drilling depth.

 

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


Technology

Scorpene Submarine Data Leak: Setback to Indian Navy

India has began multiple investigations to determine the extent of damage caused by the reported massive leak of secret data detailing the combat and stealth capabilities

NOAA Engineers a Better Current Sensor for Mariners

Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents.

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

Contracts

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Yangzijiang Shipbuilding to Slash 2,000 More Jobs

Chinese shipbuilder Yangzijiang Shipbuilding Holdings Ltd said it plans to cut 2,000 additional jobs, just under 10 percent of its current workforce, stepping up

Offshore

Onshore Spending on the Cusp of Recovery?

DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

Environmental

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Vitol's Malaysia Terminal Suspends Ops after Spill

VTTI, the storage unit of world's largest oil trader Vitol, has suspended operations at its terminal in southern Malaysia following an oil spill, two industry sources said on Friday.

Energy

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

ABS Makes it Safer to ‘Walk to Work’

ABS announced the publication of The ABS Guide for Certification of Offshore Access Gangways. The new Guide addresses certification for safety systems used for “walk to work” (W2W) crew transfers.

Viking Grace Marks 1,000 LNG Bunkering Milestone

From the very beginning, the M/S Viking Grace – delivered in January 2013 – was an environmental milestone.   The vessel attracted global attention as an environmental

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Salvage Ship Repair Ship Simulators Sonar 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: 0.1094 sec (9 req/sec)