Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has secured a contract from Singapore-listed Falcon Energy Group Limited (Falcon Energy) through its subsidiary, FTS Derricks, to construct a KFELS Super B Class jackup rig.
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. We are delighted that 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. With another 21 KFELS B Class/ Super B Class rigs on order including this latest contract, it is today the industry benchmark for premium jackups rigs. We look forward to providing Falcon Energy and their partners with a premium, safe and efficient rig with on schedule delivery. ”
Customised to Falcon Energy’s requirements, the KFELS Super B Class jackup rig is equipped with a high capacity hook load of two million pounds for operations in high temperature and high pressure wells. Developed by Keppel O&M’s technology arm, Offshore Technology Development, the KFELS B Class/Super B Class jackup design provides maximum uptime with reduced emissions and discharges.
A new customer to Keppel FELS, Falcon Energy is a leading player in the regional Offshore Marine and Oil and Gas sectors.
The above contract is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.
[mappress] Keppel, April 15, 2013