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Friday, December 15, 2017

Keppel Fels Energy Infrastructure News

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)

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)

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.

Keppel Secures $130 mln in Projects

Keppel Offshore & Marine (Keppel O&M) has, through its wholly-owned subsidiaries, Keppel FELS Brasil S.A. and Keppel Shipyard Ltd (Keppel Shipyard), secured projects from repeat customers, Petrobras and SOFEC Inc. (SOFEC) respectively, worth a combined value of approximately S$130 million. Keppel FELS Brasil's BrasFELS shipyard has secured hull carry over work for the Floating Production Storage and Offloading (FPSO) unit P-69 from Tupi BV (a consortium formed by Petrobras Netherlands B.V., operator with 65%; Shell with 25%; and Petrogal Brasil with 10%), which is represented by Petrobras. The additional work scope on P-69 includes the installation of equipment and cables for the hull as well as the commissioning of marine systems.

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.

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.

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.

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…

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".

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…

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…

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.

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.

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.

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.

Keppel FELS and PEM SETAL form joint venture to sublease Brazilian yard

Keppel FELS Limited (KFELS), the marine and offshore construction, conversion and repair company of the Keppel Group of Singapore has formed a joint venture with the PEM SETAL Group of Brazil to serve the increasing market of oil and gas exploration and production activities in Brazil and in the west coast of Africa. The joint venture company, FELS SETAL, has signed an agreement yesterday to sublease a Brazilian yard currently named Verolme. The 360,000 sqm yard, owned by Ishibras Verolme Industries, is located in the city of Angra dos Reis, about two hours south of Rio de Janeiro. This signing ceremony was witnessed by His Excellency Anthony Garotinho…

Keppel FELS Delivers Rigs Early

Photo courtesy Keppel Group Corporate Communications

Keppel FELS Ltd (Keppel FELS) has delivered two rigs safely, ahead of schedule and within budget to owners. The KFELS B Class jackup rig, Greatdrill Chitra, was delivered to India’s Greatship Global Energy Services Pte Ltd (Greatship) 12 days ahead of schedule, earning Keppel FELS a bonus of S$300,000. Keppel FELS also delivered Gold Star, the world’s first DSS 38 deepwater semisubmersible drilling rig, to Brazilian operator, Queiroz Galvão Óleo e Gás (QGOG), six days early. Both rigs are well on-track for their maiden deployments.

Keppel to Deliver Fourth ENSCO 8500 Rig

Photo courtesy Keppel FELS

Keppel FELS Limited (Keppel FELS) is on track to deliver ENSCO 8503, the fourth of seven ENSCO 8500 Series semisubmersible drilling rigs being built exclusively for Ensco plc (NYSE: ESV). ENSCO 8503 is scheduled to commence a two-year primary term with Cobalt International Energy, L.P. in the Gulf of Mexico in early 2011. The rig was named at Keppel FELS by Lady Sponsor, Cynthia Bryant, spouse of Joseph H. Bryant, Chairman & CEO of Cobalt International Energy, L.P., in the presence of Guest of Honor, Ho Ching, Executive Director & CEO of Temasek Holdings Pte Ltd. Daniel W.

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.

Keppel FELS Wins $130M Rig Order

Inking the deal for the second Gulf Drilling rig: (From left) Mr Nobuo Makabe, Deputy Managing Director/General Manager of Gulf Drilling International; Mr Yousif Rashid Al Khater, Managing Director of Gulf Drilling International; Mr Tong Chong Heong, Managing Director/Chief Operating Officer of Keppel Offshore & Marine; and Mr Michael Chia, Executive Director of Keppel FELS. Keppel FELS Limited (Keppel FELS) won a contract to build a $130 million jackup for Gulf Drilling International Ltd. (q.s.c.) (GDI). The jackup, to be named GULF-5, will be delivered by end 2007. This is GDI’s second jackup with Keppel FELS and follows shortly after the first rig, GULF-4, was signed in December 2004. GULF-4, whose keel was laid this morning at the Keppel FELS yard, is due for delivery end 2006.

Keppel FELS Delivers Another Premium Rig

Keppel FELS has delivered a KFELS B Class jackup rig, to Constructora y Perforadora Latina (CP LATINA), a private Mexican company in the energy sector. The rig was named La Santa Mariaat a ceremony in Keppel FELS. Delivered on time and with a perfect safety record, it will be chartered to Pemex, Mexico's national oil company, for deployment in offshore Mexico. La Santa Maria  is the first of two high-specification jackup rigs that Keppel FELS is building for CP Latina. The second rig is on schedule to be delivered in 4Q 2013. Mr Wong Kok Seng, Managing Director (Offshore) of Keppel Offshore & Marine and Managing Director of Keppel FELS, said, "This on time and safe delivery is a demonstration of the win-win partnership we have developed with our new customer CP Latina.

Keppel FELS to Build $205m Jackup Rig

Keppel FELS Limited (Keppel FELS) will build a third KFELS B Class jackup drilling rig worth about US$205 million for PetroVietnam Drilling & Well Services Corp’s (PV Drilling) subsidiary PetroVietnam Drilling Investment Corp (PVD Invest). The agreement is subject to conditions being met by March 14. This latest unit and PVD Invest’s second rig PV Drilling II, which is already under construction at Keppel FELS, are scheduled for delivery in the fourth quarter of 2009 respectively.

Keppel FELS: Bright Future for Offshore Drilling Rigs

The Washington Times has reported that the boom in Singapore's offshore oil and gas rig industry is expected to last another decade. Keppel FELS, says energy companies are expected to increase spending on oil exploration and production, especially in deeper waters, Channel News Asia reported Monday. Keppel FELS says some of these companies are signing drilling contracts for up to five years starting in 2009, a sign that the current boom cycle for the offshore rig industry is not slowing down anytime soon. Meanwhile, Britain's Douglas-Westwood research firm says deepwater oil production now makes up only one-tenth of total offshore oil production output. But that is expected to grow sharply. Source: Washington Times

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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