Jackup Units News

Seajacks Scylla, touted as the world's largest and most advanced wind farm installation and offshore construction vessel, has been delivered by the Samsung Heavy Industries Shipyard in Geoje, Republic of Korea. Based on the Gusto MSC NG14000X design, the ABS-classed Seajacks Scylla, has more than 8,000 metric tons of available variable deck load. Equipped with a 1,540-metric-ton leg-encircling crane and a usable deck space in excess of 5,000 square meters the unit is outfitted with 105-meter legs with the ability to install components in water depths to 65 meters.

Lamprell announced the construction of the jackup drilling rig, the “Butinah”, and delivery to Abu Dhabi’s National Drilling Company (NDC) safely and within budget. This comes following an announcement last week where NDC exercised one of its existing options and awarded a further contract to Lamprell to build a ninth rig in the series. The “Butinah” rig, which achieved an exceptional safety record, departed Lamprell’s Hamriyah facility on 1 May, and is sailing to its drilling location in the Zakum Field off Abu Dhabi. The contract for the NDC “Butinah” rig was signed in April 2012 and this is the sixth in a series of nine rigs being built and delivered by Lamprell to NDC. All nine rigs have been or will be designed according to the Cameron LeTourneau Super 116E (Enhanced) Class design.

Kongsberg Maritime was recently awarded separate contracts with three major shipyards in Asia for major technology deliveries to specialist offshore vessels. Samsung Heavy Industries (SHI) and Hyundai Heavy Industries (HHI) in Korea, and Cosco Shipyard in China have each selected Kongsberg “Full Picture” solutions for, in total, nine advanced Offshore Drilling Units, an Accommodation Unit, a Multipurpose Construction Vessel and four LNG vessels with Integrated Automation Systems.

Keppel FELS Limited (Keppel FELS) has secured a contract to build two enhanced KFELS Super A Class harsh environment jackup rigs from a subsidiary of Ensco plc (NYSE: ESV) at a shipyard price of about $440m. These rigs are scheduled for delivery in the second and fourth quarters of 2013. As part of its contract with Keppel FELS, Ensco has options to order two more similar jackup units. Mr Dan Rabun, Chairman and CEO of Ensco plc, said, "The new rig orders reflect our commitment to continually high-grade our fleet. Operators' requirements will continue to increase over time and it is Ensco's strategy and intention to maintain our position at the high end of the premium jackup market.

Keppel FELS Limited has secured a contract worth about $416m from Discovery Offshore S.A. to construct two harsh environment jackup rigs based on the proprietary KFELS Super A Class design. The rigs are scheduled for delivery in 1H and 2H 2013 respectively. The construction, marketing and operation of both units will be managed by NASDAQ-listed Hercules Offshore, Inc., which is a leading global operator of jackup and liftboat assets. Discovery Offshore has options to order two additional jackup units as part of its contract with Keppel FELS. If exercised, the options for the additional units will bring the total contract value to above $840m.

Keppel FELS Limited (Keppel FELS) has secured new orders from Clearwater Capital Partners, LLC (Clearwater) to build a pair of premium KFELS B Class jackup rigs at $360m. The two high specification jackups are scheduled for delivery in 1Q 2013 and 2Q 2013 respectively. As part of the agreement, Clearwater has options to build another two similar jackup units with Keppel FELS. If exercised, the options for the additional two rigs will bring the total contract value to above $730m. Rob Petty, Managing Partner and Co-Founder of Clearwater, said, "Confidence is rapidly returning to the offshore industry and we expect a fundamental recovery of the sector. There is a clear bifurcation in the jackup market with oil companies increasingly focused on new, high specification rigs for their projects.

Keppel Corporation Limited announced that its wholly-owned subsidiary, Keppel FELS Limited, has entered into a Letter of Intent with Mermaid Maritime Public Company Limited to build two KFELS B Class jackup rigs worth $360m. In addition to these, Mermaid will have options to build another two similar jackup units. In the event that the proposed deal proceeds, the first two jackup rigs will be scheduled for delivery on 1 December 2012 and 1 March 2013 respectively. If exercised, the options for the additional two rigs are expected to bring the total contract value to above $700m. Further announcement will be made in due course if and when the rig construction and option contracts are executed.

ABS was named Best Classification Society during the recent Lloyd’s List Middle East & Indian Subcontinent Awards held in Dubai. The award ceremony is one of six regional events hosted by the industry’s daily newspaper to benchmark excellence within the maritime industry. A panel of judges from a broad spectrum of industry selected ABS as the winner in the Classification Society category. The society has maintained a network of regional and port offices throughout the Middle East area for more than 30 years with regional administrative and operational headquarters in Dubai…

Noble Corporation reported 4Q 2007 earnings of $347.4 million, or $1.29 per diluted share, versus $199.7 million, or $0.74 per diluted share, for the fourth quarter of 2006. Per-share earnings were up 74 percent from the fourth quarter of 2006 and up nine percent from the $1.18 per share reported for the third quarter of 2007. Earnings for the full year 2007 totaled $4.48 per diluted share compared with $2.66 per diluted share in 2006 (split adjusted). The results for the 2007 fourth quarter include a net after-tax charge of $0.06 per share related to the previously reported fire aboard the drillship Noble Roger Eason and costs associated with the ongoing independent investigation of the Company's Nigerian operations, offset by an insurance recovery on our 2005 Hurricane claims.

Keppel FELS Limited has delivered a KFELS B Class design jackup drilling rig to Seadrill Management AS (Seadrill), within budget and ahead of time. This rig was named West Prospero by Lady Sponsor Jocelyn Pedregosa Shearer, wife of Ian Shearer, Senior Vice President for Jackup Units of Seadrill on June 30, 2007. Liam Mallon, Chairman and Lead Country Manager of ExxonMobil Malaysia, graced the ceremony as Guest-of-Honor. West Prospero is the second KFELS B Class rig that Keppel FELS has delivered to Seadrill. The first rig, West Ceres (ex-Seadrill 3), was delivered to Seadrill in April 2006. Keppel FELS is building two more KFELS B Class jackup rigs for Seadrill. Construction of the other two rigs is progressing according to schedule.

Keppel FELS Limited (Keppel FELS) has delivered ENSCO 108, its ninth jackup rig for ENSCO International Inc (ENSCO) on schedule, within budget and with zero loss time incidents. Of this outstanding achievement, Mr Choo Chiau Beng, Chairman & CEO of Keppel Offshore & Marine, said, “Construction of ENSCO 108 was a true mark of the efficiency and precision in project design, management and execution. ENSCO 108 was named by Lady Sponsor, Mrs Marcia Hunzeker at a ceremony at Keppel FELS on 24 March 2007. Mrs Hunzeker is wife of Mr Russ Hunzeker, Drilling and Completions Manager of BP Tanguh. ENSCO 108 is built to Keppel’s proprietary KFELS B Class jackup rig design. She is expected to depart the Keppel FELS’ yard in April on her maiden assignment in Indonesia for BP.