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Marine Log

June 3, 2008

Keppel FELS to build second semi for Brazil's QGOG

Singapore's Keppel Offshore & Marine has secured a US$385 million repeat order to build a semisubmersible drilling rig for Brazilian drilling contractor group Queiroz Galvao Oleo e Gas (QGOG). This price excludes the drilling and subsea equipment which will be supplied by QGOG.

To be named Alpha Star, the unit will be built at Keppel FELS to the DSSTM 38 design jointly developed by Keppel O&M's technology arm Deepwater Technology Group and Marine Structures Consultants of The Netherlands.

This latest rig is a repeat order of the first semisubmersible, Gold Star, which was awarded to Keppel FELS in August 2006.

Gold Star, scheduled for delivery in the second half of 2009 will support Petrobras' growth plans. Alpha Star may be deployed offshore either West Africa or South America when delivered in the second half of 2011.

Mr Tong Chong Heong, Managing Director/Chief Operating Officer of Keppel O&M said, "The repeat semisubmersible order speaks volumes of QGOG's deepening confidence in us, and the growing acceptance of our proprietary DSSTM 38 design.

The DSSTM 38 semisubmersible is designed to meet operational requirements in the deepwater "Golden Triangle" of Brazil, Africa and the Gulf of Mexico.

The DSSTM 38 is rated to drill to depths of 30,000 feet below mud line in just over 9,000 feet water depth. It is 103.5 m in overall length, with a main deck size of 69.5 m by 69.5 m. Its operational displacement is approximately 38,000 tonnes.

The DSSTM 38 has accommodations for a crew of up to 130. It has both vertical and horizontal riser storage. The eight 3,000 kW Azimuthing thrusters configuration are designed to keep the vessel in position. All configurations comply with the American Bureau of Shipping Dynamic Positioned System (DPS-2) requirements.

Besides the two DSSTM 38 for QGOG, Keppel FELS is also constructing three DSSTM 21 rigs for Maersk Contractors and one DSSTM 51 rig for Transocean. tered 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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