AOD to Build KFELS Jackup Rig

Wednesday, July 06, 2011

Keppel FELS Limited's repeat customer, Asia Offshore Drilling Limited ("AOD"), has exercised its first of two options to build a KFELS B Class jackup rig worth $184 million. The effectiveness of this first option is subject to AOD or its wholly-owned subsidiary entering into a construction contract with Keppel FELS and fulfilling certain conditions precedent.

This rig will be AOD's third with Keppel FELS and is scheduled for delivery in 3Q 2013. AOD, established by Singapore listed Mermaid Maritime Public Company Limited ("Mermaid"), had placed orders for two KFELS B Class jackup rigs in December 2010. Last week, AOD announced the completion of a private placement which will result in Mermaid and Seadrill Ltd. each having a 33.75% equal shareholding ownership in AOD. With the exercise of the option, Keppel Offshore & Marine's new orders for the year-to-date has reached S$7.4 billion (over $6 billion).

Developed by Keppel's technology arm, Offshore Technology Development, the KFELS B Class jackup is designed to provide maximum uptime with reduced emissions and discharges. It incorporates Keppel's advanced and fully-automated high capacity rack and pinion elevating system, and Self-Positioning Fixation System.

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

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Asia-N.Europe Box Rates Jump 170 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 170 percent to $732 per 20-foot container (TEU) in the week ended on Friday,

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Technology

Highest-Pull Wireline Conveyance System from Schlumberger

Schlumberger announced today the launch of the MaxPull high-pull wireline conveyance system that can pull from 18,000 lbf to 30,000 lbf in wells 40,000 ft [12,192 m] deep or more.

SPE Aberdeen Awards Students Bursaries

The Society of Petroleum Engineers (SPE) Aberdeen Section has announced the recipients of its annual student bursaries programme for 2015-2016.   In total, £7,

Cyberhawk Sinks Claws into US O&G Market

Cyberhawk Innovations, the world leader in aerial inspection and survey using Unmanned Aerial Vehicles (UAV), is set to boost its international credentials with

Contracts

Asia-N.Europe Box Rates Jump 170 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 170 percent to $732 per 20-foot container (TEU) in the week ended on Friday,

NAT Acquires Four 150,000dwt Tankers

Nordic American Tankers Limited ("NAT" or the "Company") announced today that it has entered into an agreement to acquire four existing Suezmax sister vessels built in Japan at a world-class shipyard.

Great Lakes Inks M.E., N.C. Coastal Protection Project Deals

Great Lakes Announces $55 Million in Subcontract Work in the Middle East and Award of $38 Million for a Domestic Coastal Protection Project Great Lakes Dredge

Shipbuilding

Damen, Expedition Voyage Consultants Join Forces

Damen and Expedition Voyage Consultants team up to develop globally capable expedition ship. In response to interest from clients in the fast-growing expedition cruise market,

Indian Sub Kalvari Undergoes Sea Trials

‘Kalvari’ (Tiger Shark), the first of the Scorpene-class submarines, went to sea for the first time on Sunday marking the commencement of sea trials.    The

Symphony Sun’ Launched in Leer

On Friday the 29th of April, Nb. 420 was launched in Leer. She was christened ‘Symphony Sun’ and is the fourth vessel in a series of 6 that will be delivered to Symphony Shipping.

Offshore

Highest-Pull Wireline Conveyance System from Schlumberger

Schlumberger announced today the launch of the MaxPull high-pull wireline conveyance system that can pull from 18,000 lbf to 30,000 lbf in wells 40,000 ft [12,192 m] deep or more.

Cyberhawk Sinks Claws into US O&G Market

Cyberhawk Innovations, the world leader in aerial inspection and survey using Unmanned Aerial Vehicles (UAV), is set to boost its international credentials with

DNS Appoints Esson, Chief Executive

Decom North Sea (DNS), the representative body for the offshore decommissioning industry, which promotes and facilitates collaboration and cost reduction, today appointed a new chief executive.

Finance

Asia-N.Europe Box Rates Jump 170 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 170 percent to $732 per 20-foot container (TEU) in the week ended on Friday,

Transport via Northern European ports more sustainable

On the European continent, the Alps form a natural barrier for international transport. Containers can be transported to Southern Germany, the Czech Republic or

SPE Aberdeen Awards Students Bursaries

The Society of Petroleum Engineers (SPE) Aberdeen Section has announced the recipients of its annual student bursaries programme for 2015-2016.   In total, £7,

Environmental

Transport via Northern European ports more sustainable

On the European continent, the Alps form a natural barrier for international transport. Containers can be transported to Southern Germany, the Czech Republic or

Damen, Expedition Voyage Consultants Join Forces

Damen and Expedition Voyage Consultants team up to develop globally capable expedition ship. In response to interest from clients in the fast-growing expedition cruise market,

Italian Ship Rescues 26 Migrants off Libya

An Italian merchant ship rescued 26 migrants off the coast of Libya in rough seas and others were feared missing, the Coast Guard said on Saturday. The Coast

Energy

Transport via Northern European ports more sustainable

On the European continent, the Alps form a natural barrier for international transport. Containers can be transported to Southern Germany, the Czech Republic or

MOL's LNG Carrier KUMUL Delivered

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced the delivery of the LNG carrier KUMUL at Hudong-Zhonghua Shipbuilding (Group) Co.

NAT Acquires Four 150,000dwt Tankers

Nordic American Tankers Limited ("NAT" or the "Company") announced today that it has entered into an agreement to acquire four existing Suezmax sister vessels built in Japan at a world-class shipyard.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction
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: 0.1451 sec (7 req/sec)