Keppel secures US$96 million NDC contract
Posted: 30 October 2003
Keppel FELS Limited, the offshore arm of Keppel Offshore &
Marine, has received a letter of award for a US$96 million contract
to build a jack-up rig for Abu Dhabi’s National Drilling Company
(NDC).
A customised jack-up design with a leg length of 307 feet, the
cost-effective rig is suitably tailored to operate in benign Middle
East conditions of water depths up to 150 feet.
It will be fitted with Keppel O&M’s proprietary jacking
and fixation systems, and will be completed in third quarter 2005.
Mr Abdul Munim Saif Al Kindy, General Manager of NDC, shared, “This
is the first newbuild rig that NDC is building in 20 years, and
our first turnkey jack-up rig project with Keppel FELS.
“Keppel FELS’ track record of design, engineering and
construction capabilities is impressive. We trust that they will
meet our need for a rig with overall superior efficiency and reliable,
modern technology.”
Mr Tong Chong Heong, Managing Director and Chief Operating Officer
of Keppel O&M, said, “In a competitive environment, it
pays to have our own design capabilities. This gives us the necessary
control and flexibility to configure the new rig in accordance with
NDC’s requirements at competitive pricing.”
KFELS is a leader in the construction of offshore rigs, and has
built more than 60 per cent of the world’s jack-ups on order in the
last decade.
Keppel O&M, which has a network of 16 yards worldwide including
the Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East
and the North Sea, is a wholly-owned subsidiary of Singapore-listed
Keppel Corporation Limited.
One of the Middle East’s largest drilling contractors, NDC
is the wholly-owned subsidiary of Abu Dhabi National Oil Company
(ADNOC). With more than 30 years of experience, it has built a reputation
for excellence with 15 onshore, nine offshore and six water well
rigs in operations.
For this project, Keppel FELS is represented by EMDAD who is Keppel
FELS’ agent in United Arab Emirates.
The contract secured is not expected to have any significant impact
on the net tangible assets and earnings per share of Keppel Corporation
for the financial year ending 31 December 2003.
For more information see http://www.keppelfels.com.sg.
Posted by Richard Price,
Editor Pipeline Magazine
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