Keppel
FELS’ US$126 million newbuild contract now effective
Posted: 23 February 2004
Keppel FELS Limited (Keppel FELS) announced its rigbuilding contract
with the Skeie Group AS came into effect on 16 February 2004.
The US$126 million contract, announced on 20 January 2004, also
includes an option for an additional unit within the next 6 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 feet and high
pressure high temperature (HPHT) deep drilling of down to 35,000
ft.
Mr Tong Chong Heong, Managing Director and Chief Operating Officer
of Keppel Offshore & Marine Ltd said, “This jackup rig
has been customised to the owner’s specifications and marks
another milestone in our design and engineering capability.”
The rig is due for delivery in the second quarter of 2006.
A privately owned company, Skeie Group AS is primarily involved
in investments relating to the offshore industry.
Keppel FELS is the world leader in jackup rigs, having built 60
per cent of the world’s fleet on order in the last decade.
It is a wholly-owned subsidiary of Singapore-listed Keppel Corporation
Limited, through Keppel Offshore & Marine Ltd.
The contract is not expected to have material impact on the net
tangible assets and earnings per share of Keppel Corporation for
the financial year ending 31 December 2004.
For more information see http://www.kepcorp.com
Posted by Richard Price,
Editor Pipeline Magazine
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