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Marine Log

DSS 38

July 7, 2008

Scorpion orders semi at Keppel FELS

Scorpion Offshore has placed a contract with Keppel FELS Limited for its first semisubmersible rig-- a Keppel proprietary design DSS 38 deepwater unit.).

Keppel says the contract is subject to the fulfillment of certain conditions by mid July and is valued at US$405 million. The amount excludes owner-supplied drilling and subsea equipment.

On completion, scheduled for the fourth quarter of 2011, the semi will be chartered by Scorpion to Petrobras for a period of six years.

"The DSS 38 model was developed from our years of experience as a rigbuilder and keen understanding of operating requirements in the deepwater region bordered by Brazil, West Africa and the Gulf of Mexico," said Mr Tong Chong Heong, Managing Director & Chief Operating Officer of Keppel O&M.

"It is significant that Scorpion has entrusted Keppel to build this premium design as its first semi for Petrobras. This demonstrates the growing recognition of our DSS 38 model as a choice deepwater rig for offshore Brazil," he noted.

The DSS 38 is rated to drill to depths of 30,000 feet below mud line in just over 9,000 feet water depth. With operational displacement of approximately 38,000 tonnes, the DSS 38 has housing facilities for a crew of up to 130. It has both vertical and horizontal riser storage. The eight 3,000 kW azimuth thrusters are designed to keep the vessel in position in compliance with ABS DP-2 requirements.

With this latest rig, Keppel FELS will be constructing three DSS 38 rigs, including two units for Queiroz Galvao, along with three DSS 21 rigs for Maersk Contractors and one DSS 51 rig for Transocean.

Designed by Keppel O&M's Deepwater Technology Group and Marine Structures Consultants of the Netherlands, the first DSS series semisubmersible, Maersk Explorer, began operations in 2003.

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