Keppel Hitachi Zosen Delivers Semi-tender Rig

Keppel Hitachi Zosen (KHZ) has delivered a Semi-Submersible Self-Erecting Tender Rig (SSETR) to Smedvig Asia Ltd (Smedvig). The SSETR was named West Alliance by Mrs. Patricia Chan, wife of Mr. Chan Heng Wah, Drilling Manager of Esso Production Malaysia Inc, at a naming ceremony held in Keppel Shipyard on September 29, 2001. West Alliance has a one plus one optional year drilling contract with Esso Malaysia, which is scheduled to commence in early November this year. Following the exercise of its option, Smedvig will own 100 per cent of West Alliance, and bring the total capital expenditure of the rig to about $85 million. West Alliance represents the newest generation of SSETRs, incorporating the latest technology and equipment. It is designed for deepwater drilling operations in combination with floating wellhead platforms in benign waters. Although similar in design and specifications to West Menang, West Alliance has increased deckload capacity of up to 3,300 dwt and larger accommodation facilities to accommodate 130 people. Keppel Hitachi Zosen is one of the largest and most versatile ship repair and shipbuilding groups in Asia. It has the expertise to undertake the repair, conversion and the building of a diverse range and capacity of vessels. The Group comprises Keppel Shipyard, Hitachi Zosen Singapore and Keppel Singmarine Dockyard in Singapore. Its overseas yards are in the Philippines and the Middle East. Smedvig Asia, based in Singapore, is a wholly owned subsidiary of a leading offshore drilling contractor, Smedvig asa, with headquarters in Stavanger, Norway. Smedvig has had a strong and increasing presence in the South East Asia petroleum market since 1990 when they purchased the well-established and well regarded drilling contractor, Robray Offshore Drilling Company. Smedvig is the largest operator and owner of Self Erecting Tender Rigs (SETRs) in the world, with 42 per cent market share. In the Asia Pacific region, Smedvig has 65 percent of the region's self erecting tender fleet.