Keppel FELS Delivers First Rig of 2010
Keppel FELS Limited (Keppel FELS) has delivered Ensco 8502, the third of seven Ensco 8500 Series semisubmersible (semi) drilling rigs it has been contracted to build exclusively for Ensco International (NYSE:ESV). Delivered seven days ahead of schedule, Ensco 8502 is on track to commence operations in the U.S. Gulf of Mexico in the second quarter of 2010, under a two-year contract with Nexen Petroleum U.S.A. Inc. with term extension options. The early completion was a culmination of progressive productivity gains achieved by Keppel FELS on the construction of the Series. Construction lead time for Ensco 8502 was reduced by 1.1 million man-hours, as compared to the first rig in the Series. This represents a 15% boost in efficiency.
ENSCO International Finalizes Contract
Dallas, Texas-based ENSCO International Inc. reported one of its subsidiaries has entered into a definitive drilling contract for the ENSCO 8502, an ultra-deepwater semisubmersible rig, with Nexen Petroleum USA Inc. The contract calls for a minimum two-year primary in the Gulf, which can be extended to a three- or four-year term. The aggregate day rate revenue for the two-year term is expected to be $340m. The drilling rig is the company’s third of four ultra-deepwater semisubmersibles in the ENSCO 8500 Series under construction and will join the company’s 7500 rig, which was delivered in 2000.
Keppel FELS Wins $427m ENSCO Deal
Seen here are William S. Chadwick, Jr., Executive Vice President - COO of ENSCO; Tong Chong Heong, MD & COO of Keppel Offshore & Marine; Daniel W. Rabun, Chairman, President and CEO of ENSCO; Choo Chiau Beng, Chairman & CEO of Keppel Offshore & Marine and Mr Paul Wildberger, General Manager, Capital Projects of ENSCO, in front of ENSCO 8500. Keppel FELS won an order for an ultra-deepwater semisubmersible (semi) drilling rig from a wholly-owned subsidiary of ENSCO International Incorporated (ENSCO). The total project value is $427 million. The semi, ENSCO 8503, will be the fourth semi that Keppel FELS is constructing for ENSCO. It is expected to be delivered in the third quarter of 2010. “It is our privilege to participate in the growth of ENSCO.
