Keppel Expands Foothold in Mexican Offshore Market

Press Release
Wednesday, December 12, 2012

Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has won a contract from PEMEX Exploracion y Produccion, a subsidiary of Mexico's national oil company, Petroleos Mexicanos (PEMEX), to build two KFELS B Class jackup rigs worth US$420 million.


Scheduled for delivery in 1Q 2015, the high specification rigs will be the 19th and 20th KFELS B Class rigs on order at Keppel, with 36 already delivered in the past decade.


When completed, the two rigs will join a number of KFELS B Class jackup rigs built by Keppel for Mexican customers. This includes the Primus jackup rig recently delivered to Oro Negro as well as the Tonala rig operated by Peforadora Central.


Mr Wong Kok Seng, Managing Director (Offshore) of Keppel O&M and Managing Director of Keppel FELS, said, "We thank PEMEX for selecting the proven KFELS B Class design as the basis of their new rigs. With 36 rigs delivered and 20 on order, the KFELS B Class design has been the rig of choice for drilling operators in meeting the higher specification needs of their customers. We look forward to delivering high quality rigs to PEMEX safely, on time and within budget.
 

"We are seeing more enquiries from Mexico for new rigs and we believe our KFELS B Class jackup design is well suited to meet the requirements of the Mexican market. Together with our Keppel AmFELS yard in Brownsville, Texas, we aim to boost our track record and establish ourselves as the foremost provider of drilling solutions in Mexico."



PEMEX is the world's fourth-largest crude producer at 2.5 million barrels per day. The Mexican national oil company has estimated that they will invest up to US$2.4billion in 2012 in exploration, and expect to have 40 rigs eventually operating in Mexican waters.



A senior official of PEMEX said, "The KFELS B Class jackup rig, such as the Tonala and Ocean Scepter which are operating successfully in Mexico, has proven to be an efficient and high specification rig. The two new rigs will be an important addition to our fleet and improve our exploration and production capabilities. We are confident that Keppel FELS will deliver the rigs according to the specifications required by PEMEX."



Developed by Keppel's technology arm, Offshore Technology Development, the KFELS B Class jackup design is able to operate in water depths of up to 400 feet and drill to depths of 30,000 feet.



The KFELS B Class rigs incorporate Keppel's advanced and fully-automated high capacity rack and pinion jacking system, and Self-Positioning Fixation System. It provides maximum uptime with reduced emissions and discharges. For its environmental-friendly features, the KFELS B Class design was bestowed the prestigious Engineering Achievement Award from the Institution of Engineers Singapore in 2009.



Keppel AmFELS, Keppel O&M's yard in Brownsville, Texas has previously delivered projects for PEMEX including accommodation platforms. The yard is currently undertaking the construction of two rigs for Mexico. The Papaloapan jackup, which was ordered by Perforadora Central in March 2011, is under construction and on track for delivery 1Q 2013 while the Coatzacoalcos jackup rig is slated for delivery in 1Q 2014.



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


Contracts

Thyssenkrupp Wins Qatar Integrated Rail Project

Thyssenkrupp has been awarded a contract to manufacture, supply, install and maintain more than 500 elevators and escalators for Doha’s metro network, a part of the Qatar Integrated Rail Project.

ACE Winches Bags Order from Vard

Deck machinery specialist ACE Winches said it has been awarded a spooling contract with Vard Group AS for Norway’s largest construction vessel.   The scope of work includes the spooling of two 3,

Fugro, US Army Corps of Engineers Ink Mapping Deal

Fugro has been awarded a photogrammetric and LIDAR surveying and mapping contract by the U.S. Army Corps of Engineers, St. Louis District, Missouri. The agreement

Shipbuilding

COSCO Delivers PSV and Two Jack-up Rigs

Cosco (Dalian) Shipyard Co., Ltd., a subsidiary of its 51 percent owned Cosco Shipyard Group Co., Ltd., has delivered two jackups to the Foresight Group of companies

MN100: All American Marine, Inc.

The Company: All American Marine Inc. was founded in 1987 and specializes in the construction of custom tailored aluminum boats from 30 to 150 feet LOA. Today,

ACE Winches Bags Order from Vard

Deck machinery specialist ACE Winches said it has been awarded a spooling contract with Vard Group AS for Norway’s largest construction vessel.   The scope of work includes the spooling of two 3,

Offshore

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,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

Finance

Cosco Eyes Spanish port of Algeciras

Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate,

UASC's Dismal Performance

United Arab Shipping Company (UASC), which is close to merging with Hapag-Lloyd, revealed enormous deficits and a massive debt in its key financial figures, says Alphaliner.

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,

Energy

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,

Höegh LNG Speeds up FSRU Conversion

Höegh LNG Holdings Ltd. today announced that it has signed agreements with Wärtsila Oil and Gas (EPCIC regas) and Moss Maritime (engineering) for its first FSRU conversion project,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.1259 sec (8 req/sec)