Keppel FELS Limited (Keppel FELS) is pleased to announce that PV
Drilling Overseas (PVDO) is acquiring from the company a KFELS B Class
jackup rig for approximately US$210 million.
Scheduled for delivery in 1Q 2015, the high specification rig will be the 19th KFELS B Class rig on order at Keppel, with 45 already delivered since 2000.
Mr Pham Tien Dung, Chairman of PVDO and CEO of PV Drilling said, "We
are looking to catch up on the huge demand for offshore rigs and
actively seize the opportunities coming. To meet this aim, we are
pleased to be able to acquire a premium jackup rig with such an early
delivery schedule. This is an important addition to our current fleet of
rigs to expand our fleet through acquisitions and charters to
accelerate our drilling programme for Vietnam and the overseas market."
The KFELS B Class jackup design was developed by Keppel's technology
arm, Offshore Technology Development. It is able to operate in water
depths of 400 feet, drilling depth of 30,000 feet and accommodate up to
150 men.
Mr Wong Kok Seng, Managing Director (Offshore) of Keppel O&M and
Managing Director of Keppel FELS said, "We are pleased to provide PVDO
with a KFELS B Class jackup rig to suit their schedule. Even though we
have a number of deliveries slated for 2015, our construction programme
allows us the flexibility to meet our customer's requirements.
"Having just delivered our 45th KFELS B Class rig, and
with another 19 on order, this proven design has been the rig of choice
for the offshore drilling industry. We look forward to providing PVDO
with a high quality rig on time, on budget and in a safe manner."
Readily upgradeable to higher performance capabilities, KFELS B Class
rigs incorporate Keppel's advanced and fully-automated high capacity
rack and pinion elevating system, and self-positioning fixation system.
It provides maximum uptime with reduced emissions and discharges. For
its environmental-friendly features, the KFELS B Class design was
bestowed the Prestigious Engineering Achievement Award from Institution
of Engineers Singapore in 2009.
The new contract is not expected to have material impact on the net
tangible assets or earnings per share of Keppel Corporation Limited for
the current financial year.
Uncle8888's estimated Kep Corp Order Book
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