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Marine Log

MAERSK RESOLUTE

August 16, 2008

Keppel FELS delivers jackup ahead of schedule

Singapore's Keppel FELS Limited has delivered a jackup drilling rig to Maersk Contractors three days ahead of schedule.

Named Maersk Resolute today by Ms Anette Bjerge, wife of Mr. Soren Gath Hansen, EVP of Dong Energy, it is the second in a series of four jackups being built by Keppel FELS for Maersk Contractors and has been contracted to Dong Energy for operations in the Danish part of the North Sea for three years.

Mr Claus V. Hemmingsen, CEO of Maersk Contractors, said the early delivery was "yet another significant milestone in the longstanding cooperation between Keppel FELS and Maersk Contractors," adding that "Keppel's track record of delivering projects on time and within budget was a factor for choosing the yard for our massive investment program."

The series of high efficiency rigs have a maximum operating depth of 350 feet and are suitable for drilling deep, high temperature/ high pressure wells of 30,000 feet. They are also highly automated for safe operations.

Deliveries are scheduled at half-yearly intervals. The first rig, Maersk Resilient, was delivered in February this year and has commenced operations for Dubai Petroleum at the Fateh U platform in Dubai waters.

Maersk Contractors is part of the A.P. Moller - Maersk Group and is a significant drilling contractor and supplier of floating production solutions. The fleet counts 26 drilling rigs and four FPSOs including five high efficiency jack-up rigs, three deepwater development semi-submersibles and one FPSO vessel under construction. Maersk Contractors employs an international staff of 3,500 well-trained people.

Keppel FELS is a wholly-owned subsidiary of Keppel Corporation Limited, through Keppel O&M, a leader in offshore rigs, shiprepair and conversion and specialised shipbuilding. Keppel O&M's near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry

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