Keppel Wins Twin Jackup Rig Order

Press Release
Wednesday, May 11, 2011

Keppel FELS Limited (Keppel FELS) has secured contracts to build two high-specification KFELS B Class Bigfoot jackup rigs from returning customer Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar, worth about US$393 million.

These latest contracts follow closely after Keppel FELS was awarded a newbuild jackup rig contract by one of GDI's Shareholders, Japan Drilling Company, in March this year.

Scheduled for delivery in the third quarters of 2013 and 2014, the two latest rigs mark GDI's first new orders in six years, and will increase the company's jackup fleet count to seven units.

Mr Tong Chong Heong, Chief Executive Officer of Keppel Offshore & Marine Ltd (Keppel O&M) said, "We are pleased to work with GDI again, having successfully delivered two KFELS B Class jackup rigs to them previously. On top of its newbuilding contracts with Keppel FELS, GDI is also upgrading and repairing its rigs at Nakilat-Keppel Offshore & Marine, our joint venture shipyard with Qatar Gas Transport Company.

"Our Near Market, Near Customer strategy enables us to develop a keen understanding of our customers' businesses and tailor products and services to meet their needs. Repeat customers are a vindication of the quality and reliability that Keppel O&M provides, and the effectiveness of its proprietary designs. We look forward to supporting GDI as they expand their offshore fleet and presence in the Middle East."

Customised to GDI's requirements, the new jackup rigs will be designed to operate in the higher ambient temperature of the Middle East. The KFELS B Class Bigfoot is equipped with larger spud cans for reduced bearing pressure and expands its operational coverage in more places, especially areas where soft soil is predominant. GDI's new rigs also feature an enhanced leg design for added robustness. Each rig will have a full 15,000 psi BOP system, 75-feet cantilever outreach and be able to accommodate 150 persons.

Mr Saad Sherida Al-Kaabi, Chairman of GDI said: "The two new hi-tech premium jackup rigs under order from Keppel FELS will be welcome additions to GDI's fleet. They will serve as the cornerstone of an expansion plan that is geared to increasing GDI's share of the Qatar drilling market. GDI is driven to become a key provider of drilling rig services and to be the drilling contractor of choice in Qatar. Our commitment to both safety and performance is unwavering and these new rigs will enhance our ability to perform safely, efficiently and cost effectively. We look forward to receiving a high quality product from Keppel FELS and to continuing our association with them."

Mr Ibrahim J. Al-Othman, Chief Executive Officer of GDI said, "GDI has become the leader of Qatar's drilling market in a matter of just six years. The decision to select Keppel FELS was carefully considered after taking into account factors such as rig design, rig equipment, experience in building jackup rigs, reliability, timing, cost and post construction support. We believe they produce a technically superior rig and we are very pleased to be adding two more of their rigs to our fleet."

Prior to the latest contracts, Keppel FELS had delivered two KFELS B Class jackup rigs, Al-Khor and Al-Zubarah, ahead of schedule, within budget and safely to GDI.

Mr Al-Othman added, "Keppel FELS is our trusted partner as they have proven themselves time and again with high quality projects delivered safely, on time and within budget. We have a win-win relationship with them and the new rigs will enable GDI to expand its premium rig fleet to meet the needs of our customers in the Arabian Gulf promptly and reliably."

The above contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.
 

Soruce: http://www.kepcorp.com

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

Shipbuilding

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

COSCO Delivers Bulker

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co.

Navy to Commission Submarine North Dakota

The Navy will commission its newest attack submarine North Dakota, during a ceremony Saturday, Oct. 25, 2014, at Submarine Base New London in Groton, Connecticut.

Offshore

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
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: 0.2101 sec (5 req/sec)