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.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

BAE Systems Awarded 'USS Hopper' Repair Contract

US Department of Defense informs BAE Systems Hawaii, Honolulu, Hawaii, is being awarded a not-to-exceed $22,905,907 undefinitized contract action to a previously

Upcoming Winter Tanker Market Same as Last Year?

Will the 2014/15 winter tanker market be a repeat of the previous one? Poten & Partners consider the question in their latest 'Poten Tanker Opinion'. As the

Technip Signs Contract for Refinery Units in Bahrain

Technip was awarded by The Bahrain Petroleum Company (BAPCO) a significant (1) contract on a reimbursable basis to develop the Front-End Engineering Design (FEED)

Shipbuilding

Holland America Line's New Ship is ms Koningsdam

Holland America Line revealed the name of its new 99,500-ton cruise ship slated for delivery in February 2016 will be ms Koningsdam. While the name pays homage

USNS Fall River Delivered by Austal USA

The Navy informs it has accepted delivery of Joint High Speed Vessel, the future 'USNS Fall River' from the Austal USA shipbuilder. The delivery marks a major milestone,

Ingalls Delivers NSC Hamilton to USCG

Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division delivered the National Security Cutter Hamilton (WMSL 753) to the U.S. Coast Guard today. The

Offshore

Technip Further Optimizes its Subsea Assets

Technip signed today an agreement to sell 100% of its North American diving assets to Ranger Offshore Inc.(1). Technip’s strategy focuses on high technology

InterMoor UK Completes 2,300 Accident-free Projects

InterMoor UK Operations, part of Acteon’s foundations and moorings business, says it has completed seven years and more than 2,300 projects without a single lost-time incident (LTI).

Navy Ocean Services Contracts Awarded to Five Firms

The US Department of Defense inform that five firms are to share in a broad range of ocean engineering services contracts with a combined maximum dollar value of US$99-million.

Finance

Trelleborg Report Optimistic for Port Investment

The latest 'Barometer Report' from Trelleborg's marine operations business sector, discusses the issues impacting ports and terminals around the globe, and reveals

Upcoming Winter Tanker Market Same as Last Year?

Will the 2014/15 winter tanker market be a repeat of the previous one? Poten & Partners consider the question in their latest 'Poten Tanker Opinion'. As the

Technip Further Optimizes its Subsea Assets

Technip signed today an agreement to sell 100% of its North American diving assets to Ranger Offshore Inc.(1). Technip’s strategy focuses on high technology

Energy

Upcoming Winter Tanker Market Same as Last Year?

Will the 2014/15 winter tanker market be a repeat of the previous one? Poten & Partners consider the question in their latest 'Poten Tanker Opinion'. As the

Technip Further Optimizes its Subsea Assets

Technip signed today an agreement to sell 100% of its North American diving assets to Ranger Offshore Inc.(1). Technip’s strategy focuses on high technology

Caterpillar Named to Dow Jones Sustainability Indices

Caterpillar Inc. has been named to the 2014 Dow Jones Sustainability Indices (DJSI), recognizing Caterpillar as a sustainability leader in the Industrial Engineering sector.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pod Propulsion Salvage Ship Electronics 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: 0.1653 sec (6 req/sec)