Marine Log

March 9, 2006

Keppel FELS gets more jackup orders

Singapore's Keppel FELS Ltd. has announced two more orders for jackup rigs.

One is from an India-based drilling contractor, Discovery Hydrocarbons Pvt Ltd, a Jindal Group Company. It covers design, engineering and construction of a KFELS B Class jackup valued at US$171 million.

Keppel FELS has also announced a repeat order for a third KFELS B Class jackup rig from Awilco Offshore (Awilco) at US$146 million, via the exercise of an option agreement.

The first and second Awilco rigs were announced in February and August 2005 respectively.

Customized to Awilco.s requirements, the new rig, WilStrike, will be capable of drilling down to 30,000 feet in water depths of up to 400 feet. Delivery is expected in second quarter 2009.

The rig for India's Discovery Hydrocarbons is designed for water depths of up to 350 feet, but it can also be readily upgraded to 400 feet water-depth.

Due for delivery in fourth quarter 2008, the new rig has a drilling depth capability of 30,000 feet and accommodations for 112 persons.

With these new orders, there are currently seven KFELS B Class rigs in operation and another 17 under construction.

Sam Malhotra, Director of Discovery Hydrocarbons Pvt Ltd., said: "We are glad to work with Keppel FELS for our first newbuild jackup. Keppel FELS has a commendable track record in design, construction and timely delivery of jackups. The KFELS B Class, a tried and proven design in many offshore environments, has been verified to meet our drilling needs."