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Fts Derricks News

23 Jan 2016

Keppel Profits Fall

Singapore-based rig builder Keppel Offshore & Marine saw profits fall for last year along with revenues. It also revealed work had slowed on rigs being built for Sete Brasil with the Brazilian company not making payments in over a year. Keppel’s profit was S$481 million for the full year., down 54% from S$1,040 a year ago. For the quarter O&M business recorded a net loss of $61 million. It posted a net loss of $42.54 million for Q4 2015, down from a net profit of $200.18 million in the previous year, with the decline attributed to lower volume of work and deferment of some projects. Keppel Corporation has halted work on its projects for Sete Brasil and made a provision of about $230 million for the possible write-offs, said chief executive Loh Chin Hua.

13 Jul 2015

Keppel Secures $85 mln Liftboat Order

Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract from Crystal Heights Holdings Limited, a company specializing in the offshore oil and gas market, to build a high specification liftboat worth $85 million. The liftboat is designed by Keppel O&M's liftboat design specialist, Bennett Offshore in collaboration with Keppel FELS. Scheduled for delivery in 4Q 2017, the liftboat will have provisions enabling it to operate in China, the Middle East and the Gulf of Mexico. Liftboats are dedicated vessels used to support offshore platforms in construction, accommodation and well intervention as well as maintenance and installation.

15 Apr 2013

Keppel Wins $226m Offshore order

Keppel Offshore & Marine’s 2013 to-date total to $1.8 billion (USD). Mr. Wong Kok Seng, Managing Director (Offshore) of Keppel O&M and Managing Director of Keppel FELS said, "Falcon Energy entered the offshore oil drilling business when they ordered two jackup rigs from China in 2011 ... Falcon Energy has chosen the KFELS Super B Class design for their new high specification jackup rig, which will be built at our yard in Singapore. "So far this year, Keppel FELS has already delivered six rigs ahead of schedule, safely and on budget. For the latest delivery of AOD II, a KFELS B Class jackup, to Asia Offshore Drilling, we received a bonus of about US$2 million for completing the rig 62 days early.