Skeie Group As News

Keppel FELS Limited (KFELS) has signed an agreement with a wholly owned subsidiary of the Skeie Group AS of Norway to build a rig for $126 million. To effect this agreement, financing for the construction of the rig must be completed by February 16, 2004. Construction of the rig is expected to be around 26 months. The rig to be built is a Keppel FELS MOD V B class enhanced jackup capable of operating in water depths of up to 350 ft. and deep drilling of down to 35,000 ft.. The owner has an option to order within the next six months an additional unit with the same technical specification as the first unit with price adjustment for currency fluctuations.

Keppel FELS Limited announced that its rigbuilding contract with the Skeie Group AS has come into effect on February 16, 2004. The $126 million contract, announced on January 20, 2004, also includes an option for an additional unit within the next six months. Developed by Keppel FELS’ sister company, Offshore Technology & Development, the rig will be an enhanced KFELS B class jackup, capable of operating in water depths of up to 350 ft. and high pressure high temperature (HPHT) deep drilling of down to 35,000 ft. The rig is due for delivery in the second quarter of 2006.

Sinvest ASA of Norway has, through a subsidiary of its wholly owned Singapore company Deep Drilling Invest Pte. Ltd., exercised an option with Keppel FELS Limited (KFELS) to build another KFELS Super B class jackup at $126 million on the back of rising deep gas drilling activities. Their decision came after successfully raising funds through a convertible loan to facilitate the exercise of one of the company’s construction options for deep gas drilling. In February 2004, the Skeie…

The new tender rig is an enhancement of the proprietary KFELS SSDT 3600 design rigs, West Setia (seen here) and West Berani, which Keppel FELS has designed and built for Seadrill Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Corporation Limited, has secured two rig contracts amounting to $534m. The contracts are for the construction of a drilling-cum-production jackup rig and a deepwater drilling tender rig. Both rigs will be built to Keppel’s proprietary design. The first contract, worth $400m, is for the third KFELS N Class jackup rig for Skeie Drilling and Production, a member of the Skeie Group. The new rig is expected to be delivered in the 4Q of 2010. “Having three KFELS N Class orders in less than half a year is strong endorsement for this innovative design.

Keppel FELS Limited (Keppel FELS) has secured a repeat order for a KFELS N Class jackup rig for $392m from ProdJack AS, a member of the Skeie Group. The new rig is slated for delivery in the third quarter of 2010. Characterized by severe wind gusts and waves over 98.4 ft high, the North Sea is said to be one of the world’s most challenging areas for oil and gas exploration and production. Developed by Keppel’s R&D arm, Offshore Technology Development, the KFELS N Class jackup rig will provide customers the flexibility of having a unit that can undertake drilling and production activities concurrently for exploitation in marginal fields.

Keppel FELS has secured a $371m contract to construct the first KFELS N Class jackup rig for ProdJack AS, a member of the Skeie Group. When delivered at the end of the first quarter of 2010, the KFELS N Class rig will be the largest jackup rig ever to be built in Singapore. It will also be among the world's largest jackup rigs to be constructed for the North Sea. Under the agreement, Keppel will have a 10 percent equity stake in the rig. The KFELS N Class rig is the brainchild of Keppel's R&D arm, Offshore Technology Development, following Keppel's extensive experience in constructing rigs for the North Sea region since 1985. The KFELS N Class design provides customers the flexibility of having a jackup unit that can undertake drilling and production activities concurrently.