OCTOBER 24, 2012 — Singapore's Keppel FELS shipyard has delivered Paradise 400, a high-specification KFELS B Class jack-up rig to Safin Gulf FZCO (Safin) ahead of schedule and with a strong safety record.

The rig is a refurbishment and upgrade of a KFELS B Class jack-up rig that Keppel FELS purchased in 2011.

Upgrades include two additional knuckle boom cranes installed on the port and starboard sides of the cantilever platform to improve efficiency for material handling and promote a safe working environment.

Besides an increased mud pit storage capacity of 4,000 bbls to improve rig flexibility for mud mixing operations, the latest mud treatment technology such as balanced elliptical motion and cascade shakers have been installed to deliver better throughput capacity.

A compact, fit-for-purpose derrick mounted Bridge Crane has been installed to improve safety and efficiency for offline stand building and pipe racking. Its offline stand building capability enables it to handle drill pipes more efficiently.

Developed by Keppel's jack-up rig design arm, Offshore Technology Development, the KFELS B Class rig is able to operate in water depths of 400 ft with a drilling depth of 30,000 ft. It is equipped with a full 15,000 psi BOP system, 70-ft cantilever outreach, accommodations for up to 150 personnel.

Mr. Raimonds Namikis, Executive Vice President of Safin said, "Ordering this rig has been a good investment for us. With the large orderbook that Keppel FELS has, we are pleased to have been able to receive a high specification jack-up rig within about a year. This has enabled us to fast track our fleet expansion program and put the rig out in the market ahead of other operators. We continue to see strong demand for such high specification jack-ups, from the Middle East to the Gulf of Mexico.

"The KFELS B Class is a proven design and with the Paradise 400's increased specifications, we are confident that it will be a success wherever it operates. This jack-up is testament to Keppel FELS' reputation as the world's leading rig builder and designer and the value-add they give to their customers."

Mr. Wong Kok Seng, Managing Director of Keppel FELS said, "We are always on the lookout for ways to create win-win situations for our customers. When we saw the opportunity to provide a high quality rig within a compressed time frame, we knew that it would be an attractive option for our customers as such jack-ups are in high demand, especially for those scheduled for delivery in 2012. Leveraging our expertise as a designer and a builder, we are able to customise rigs to their requirements and deliver safely, within budget and ahead of schedule. We thank Safin for their confidence in us and look forward to supporting them as they grow their fleet of rigs."

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