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 September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

NZ Interislander Ferry to Dry-dock in Devonport

NewZealand's KiwiRail says that the Interislander ferry Arahura has left Wellington for her scheduled bi-annual dry-docking in Devonport, having last visited Auckland in July 2012.

Shipbuilding

RIMPAC Exercise Puts LCS Through Paces

It was the middle of May, and the littoral combat ship Independence was operating out of San Diego, testing components of the mine warfare mission package. The mission is one that,

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

Offshore

Drydocks World to Participate in SMM 2014

Drydocks World, the leading provider of maritime and offshore services to the shipping, oil, gas, and energy sectors, will participate in the prestigious 26th edition of Shipbuilding,

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Keppel T & T Appoints Lim Chin Leong to its Board

Keppel Telecommunications & Transportation Ltd (Keppel T&T) has strengthened its Board with the appointment of Mr Lim Chin Leong as an independent, non-executive

Finance

A Boost for UK Offshore Drilling? DW Monday Muses

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report

MHI, IHI & DBJ Join Forces On Investments

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.

Energy

ABB Celebrates 125th Anniversary in Finland

ABB is celebrating today its 125th anniversary in Finland. Founded in 1889 in Helsinki by entrepreneur and inventor Gottfrid Strömberg, ABB Finland is today

China's National Carbon Market to Start in 2016

China plans to roll out its national market for carbon permit trading in 2016, an official said Sunday, adding that the government is close to finalising rules

Fukushima Fallout: Resentment Grows

Like many of her neighbours, Satomi Inokoshi worries that her gritty hometown is being spoiled by the newcomers and the money that have rolled into Iwaki since

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1788 sec (6 req/sec)