January 3, 2005

Keppel FELS starts 2005 with jackup order

Singapore's Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Corporation Ltd, has secured a US$110 million contract to build a jackup rig for Petrovietnam Drilling & Well Services Company (PV Drilling).

The new jackup is a KFELS B class design customized to client's requirements. It will be capable of operating in 90 meters water depth and drilling depth of 20,000 feet, with accommodations for 110 men.

On completion in the first quarter of 2007, it will be deployed offshore Vietnam.

With the new order, Keppel FELS will have successfully clinched six KFELS B class contracts since 2004. This also brings the number of KFELS B Class rigs in operation and under construction to 12 since its introduction in year 2000.

Keppel FELS claims world leadership in the design and construction of jackup rigs. It has built 60 percent of such rigs ordered worldwide in the last decade.

"We are honored to be the builder of choice for PV Drilling," said Tong Chong Heong, Managing Director and Chief Operating Officer of Keppel O&M. He noted that Keppel FELS' relationship with PV Drilling's parent company, PetroVietnam, went back some 20 years to the delivery of Vietnam's first rig in 1988.

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