Keppel to Build Semisubmersible for Floatel for $315 Million

Keppel FELS Limited (Keppel FELS) has entered into a Letter of Intent (LOI) with returning customer Floatel International Ltd (Floatel), to build a new generation harsh environment semisubmersible (semi) worth $315 million for delivery in July, 2014.

This will be Floatel's fourth accommodation semi with Keppel FELS after the delivery of Floatel Superior and Floatel Reliance in 2010 and the order of Floatel Victory in 2011.

The new semi will be based on the Floatel Superior design, a DSSTM 20NS design developed by GustoMSC and Keppel FELS' Deepwater Technology Group. Equipped with Dynamic Positioning (DP) 3 capability, it will meet the most stringent rules and regulations for worldwide operations including the Norwegian Sector.

"We continue to build our fleet of accommodation vessels, such as Floatel Superior, to meet global demand for safe and cost efficient service,” said Peter Jacobsson, CEO of Floatel. “Floatel International has an excellent organization, which positions us favorably for strengthening our niche offering in this market segment. The DSSTM 20NS has been a proven design for us, with Floatel Superior achieving excellent performances wherever she has operated, first for ConocoPhillips Australia in the Timor Sea, and presently for Statoil in Norway's Oseberg field."

When completed, the new semi will be able to accommodate 440 persons in single-bed cabins with ample recreation areas as well as office amenities. Well equipped with a host of modern facilities, the vessel is ideal for construction support during new construction, maintenance activities or for decommissioning projects of offshore oil and gas installations.

Floating accommodation platforms are needed to provide additional living quarters for drilling and production personnel. Such support is required during hook-up and commissioning in the development phase, for maintenance and upgrading during the production phase, as well as for decommissioning.