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Keppel Fels Energy Infrastructure News

09 Oct 2001

Keppel To Restructure KHZ Under Keppel FELS

Keppel Corporation Limited (KCL) will restructure Keppel Hitachi Zosen Limited (KHZ) under Keppel FELS Limited (Keppel FELS), the rig building and repair arm of Keppel FELS Energy and Infrastructure (KFEI), to create a global leader in servicing the international marine and offshore market. KCL will transfer its entire 61% interest in KHZ to Keppel FELS immediately upon completion of the privatization of Keppel FELS Energy & Infrastructure Ltd (KFEI) in early to mid November this year. Shareholders of KFEI have given their approval for the delisting of the company on October 5. KCL Executive Director Choo Chiau Beng, said, ?The restructuring…

31 Oct 2001

Keppel FELS In Azerbaijan

Keppel FELS, a member of the Keppel Group, has successfully established a foothold in Azerbaijan through its joint venture yard, Caspian Shipyard Company. The world leader in the construction of jack-up rigs celebrates the first operating birthday of its rig built in the Caspian Sea. Keppel FELS retraces its trailblazing record as the first Singaporean company to build jack-up rigs there. “This is not business as usual, but it’s our business. We conduct it with a ‘can do’ attitude…. “Caspian Shipyard Company has established an industry capability that will have long term benefits to the country and the Caspian Region… It is the industry expectation that Caspian Shipyard will continue on to become a strong regional player…

16 Apr 2002

Keppel Corporation Elects Two Top Names To Board

Keppel Corporation Limited (KCL) has appointed Tony Chew Leong-Chee and Dr. Lee Tsao Yuan to its Board. Both Chew and Dr. Lee are no strangers to the Keppel Group,as they were Directors of Keppel Capital Holdings before it was sold in August last year. Dr Lee still sits on the Board of Keppel FELS Energy & Infrastructure Ltd. Chew is an agronomist, having obtained his professional qualification through a plantation cadetship with Ko Rubber Plantations in Malaysia and participation in the Serdang Agricultural College (Malaysia) extension program. He also co-founded Asia Resource Corporation Pte Ltd and is now Executive Chairman of the company, and is Chairman of Del Monte Pacific Ltd, Macondray Corporation Pte Ltd and Representations International Pte Ltd. Dr.

10 Apr 2000

Keppel FELS clinches $110M rig order

Keppel FELS Limited (KFELS), the offshore arm of Keppel FELS Energy & Infrastructure Ltd. (Keppel FELS), has signed a contract with Chiles Offshore LLC (Chiles) to build a $110 million jack-up rig of KFELS MOD V "B" design, cantilevered jack-up rig. Work is expected to start immediately, with delivery scheduled for around the second quarter of 2002. This rig is one of KFELS' ultra-premium proprietary jack-up designs which has been modified in this case for non-harsh environment usage. It is designed to be able to exceed the operating capabilities of conventional non-harsh environment jack-up rigs and will be built to a leg length of 475 ft., with an option to extend this to 545 ft. "Our goal is to augment our position in the ultra-premium, deep-water jack-up market niche.

08 Aug 2000

Keppel FELS Awarded $60 Million Conversion Contract

Keppel FELS Limited (KFELS), the offshore division of Keppel FELS Energy & Infrastructure Ltd (Keppel FELS), has won a contract from Diamond Offshore Drilling for the significant upgrade of its semi-submersible, Ocean Baroness to a semi-submersible with fifth-generation capabilities. Total capital expenditure for the conversion is estimated at $180 million, of which the shipyard's share is approximately $60 million. The planned deepwater upgrade will be a greatly enhanced version of Diamond Offshore's highly successful Victory-class upgrades. Initial outfitting will be designed to include stability enhancements and self-contained chain/wire mooring for operation in water depths to 6,000 ft.

13 Nov 2000

Keppel Fels Hopes To Grab Hold Of Europe's Offshore Market

Keppel Fels Energy & Infrastructure Ltd, seeking a foothold in the European offshore market, said on Monday it was in talks to take over Dutch repair and conversion yard Verolme Botlek. The Singapore company gave no indication of the likely cost of acquiring the Rotterdam yard, which has three dry docks and is owned by Wilton Fejinoord Holdings. "This possible acquisition will provide Keppel Fels with an opportunity to expand our network in Europe and to service our customers in the North Sea," a spokeswoman said. She said the planned purchase of the yard was in line with the firm's strategy, outlined at the beginning the year, to move physically closer to its customers.

15 Sep 2000

Keppel Hitachi, Fels May Merge Offshore Business

Shipbuilder Keppel Hitachi Zosen Ltd. reportedly is in discussions to merge its offshore business with sister company Keppel Fels Energy Infrastructure Ltd., a maker of oil rigs and ships. The activity is presumably spurred by the market reality of increasingly cheaper ship and rig building options available.

11 Dec 2000

Keppel Fels, Ensco Team On $130M Rig

Keppel FELS Limited, the offshore arm of Keppel FELS Energy & Infrastructure Ltd., and ENSCO International Inc. have entered in an alliance agreement to build, own and operate an enhanced KFELS MOD V jack-up rig, with an estimated value of US$130 million. ENSCO 102, respectively. Keppel FELS is responsible for the engineering and building of the rig, while ENSCO provides procurement services and is responsible for the project management during the construction of the rig. ENSCO will have the option to purchase the remaining 75% interest in the rig from Keppel FELS until two years after delivery of the rig. The option price for the period up to the delivery of the rig will be based on the final price payable to Keppel FELS for the construction of the rig.

11 Dec 2000

Keppel Fels, Ensco Team On $130M Rig

Keppel FELS Limited, the offshore arm of Keppel FELS Energy & Infrastructure Ltd., and ENSCO International Inc. have entered in an alliance agreement to build, own and operate an enhanced KFELS MOD V jack-up rig, with an estimated value of US$130 million. ENSCO 102, respectively. Keppel FELS is responsible for the engineering and building of the rig, while ENSCO provides procurement services and is responsible for the project management during the construction of the rig. ENSCO will have the option to purchase the remaining 75% interest in the rig from Keppel FELS until two years after delivery of the rig. The option price for the period up to the delivery of the rig will be based on the final price payable to Keppel FELS for the construction of the rig.

23 Jan 2001

Keppel Fels Abandons Verolme Botlek Pursuit

Keppel Fels Energy & Infrastructure Ltd. said it has aborted its planned purchase of Dutch repair and conversion yard Verolme Botlek. Keppel Fels, the offshore rig-building division of Keppel Corp., said in a statement to the Singapore Exchange that it had ceased negotiations with Wilton Fejinoord Holdings after the "expiry of the letter of intent." Keppel Fels, which was seeking a foothold in the European offshore market, said in November it was in talks with Wilton to acquire the Rotterdam yard, which has three dry docks. - (Reuters)

05 Feb 2001

Keppel Earnings Strong

Singapore conglomerate Keppel Corporation (KepCorp) and its units will report record profits over the next week, but a lack of progress on the restructuring front will stifle a return of investor interest, analysts say. Funds have neglected KepCorp, once considered a proxy for Singapore because of its interests ranged from telecoms and ship-repair to banking and property, and its shares are now drifting near the bottom of their historical trading range. Analysts expect the group, in which the government has a 32 percent stake, to report another year of record profits for 2000, topping 1999's $127 million. KepCorp's seven listed subsidiaries are Keppel Land…

26 Apr 2001

Brazillian Yard Preps To Ride Offshore Wave

As ship and boatyards in the Gulf of Mexico eagerly await 'Offshore Boom 2001,' it might behoove them to look at activities transpiring outside of their own backyard, as the business of building offshore rigs and vessels has truly become a global bonanza. For example, down south, way down south in Brazil, FELS Setal SA has become that country's preferred shipyard for offshore and marine services on account of its quality workmanship and on-time deliveries, after just one year of its formation. The 60/40 joint venture company between Keppel FELS Energy & Infrastructure Ltd. (Keppel FELS) of Singapore and the PEM Setal Group of Brazil has won a total of $120 million worth of contracts in this short time.

09 May 2001

Merger Talks In Singapore

Shares of Keppel Hitachi Zosen Ltd. and Keppel FELS Energy & Infrastructure Ltd. surged on market talk the two units of the Singapore conglomerate Keppel Corp. would be merged. Ship repair specialist Keppel Hitachi jumped as much as 47 percent to an eight-month high of S$0.575 before moving back to S$0.51, up 12 cents, in moderate trade of 3.7 million shares. KepFELS, which also has a marine business, rose eight cents to S$0.935 after surging as much as 17 percent earlier to S$1.00 -- a level not seen since the middle of March. Volume was high with more than 10 million shares traded. "The rumours are not new. It seems that day traders were riding the wave," said a senior trader at a local brokerage. A Keppel official said she was "not aware of any corporate development".

24 Jul 2001

Diamond Offshore Awards $34M In Rig Contract

Keppel FELS Energy & Infrastructure won contracts worth a total of $34 million from subsidiaries of Diamond Offshore Drilling Inc. The contracts awarded to units Keppel FELS Ltd. and Amfels Inc. are for conversion of four rigs so they can drill in deeper water, the firm said in a statement. - (Reuters)