Keppel FELS Delivers First of 20 Rigs for 2013

Press Release
Sunday, January 27, 2013

Keppel FELS is delivering its first rig of 2013, 'Dynamic Vision', to Dynamic Offshore subsidiary Vision Drilling.

The KFELS B Class jackup rig, Dynamic Vision, is the first of the 20 offshore rigs that Keppel FELS is expected to deliver in 2013 and will be delivered almost two months ahead of schedule (with a perfect safety record), to garner an early delivery bonus of about US$ 1 million.

Built and optimised to meet the unique environmental requirements of India, Dynamic Vision is capable of operating in water depths of 350 feet and drilling down to 30,000 feet. Keppel's advanced and fully-automated high capacity rack and pinion elevating system and self-positioning fixation system have been incorporated into the design.

Mr Lam Yi Young, Chief Executive of the Maritime and Port Authority of Singapore, speaking as the Guest of Honour at the naming ceremony today, said, "The offshore and marine industry is a key part of Singapore's economy and we are proud that Keppel, a home-grown company, has established itself as a global leader in the design, construction and repair of mobile offshore rigs. The successful delivery of Dynamic Vision is testament to Keppel's proven capabilities and the strong industry partnerships it has built up."

Mr Wong Kok Seng, Managing Director (Offshore), Keppel Offshore & Marine and Managing Director, Keppel FELS added, "We are pleased to be able to deliver our first rig of 2013 two months ahead of schedule. It augurs well for the rest of the 19 rigs that we expect to deliver this year. For the month of January alone, we are delivering three rigs. Our ability to deliver these rigs on time or ahead of time and safely is due to two factors; the continuous process and productivity improvements we have implemented in the yard; and the fact that the majority of the rigs being built are to our proprietary designs.
 

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