JANUARY 5, 2018 — Singapore’s Keppel FELS Ltd (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd,, reports that it has delivered the jack-up rig, Saga, to Borr Drilling Limited, safely, on time and on budget.
Built to Keppel’s proprietary KFELS Super B Class design, Saga is the first of five jack-up rigs that Keppel is building for Borr Drilling.
“We are pleased to deliver the first rig to our new customer Borr Drilling,” said Mr. Chris Ong, CEO of Keppel O&M. “This will be the twelfth KFELS Super B Class rig and the 66th rig of the KFELS B Class family to enter the market.”
The KFELS Super B Class rigs are designed to operate in 400 feet water depth and drill to 35,000 feet. With a two million pound drilling system and a maximum combined cantilever load of 3,700 kips, the KFELS Super B Class is equipped with tremendous horsepower during drilling operations.
“Jack-up utilization is improving as we recover from the bottom of the business cycle,” said the CEO of Borr Drilling, Simon Johnson. “The market preferentially rewards contractors who invest in the latest designs from the best shipyards. Our partnership with Keppel FELS allows us to provide rigs with leading edge specifications ready to deliver the highest operational performance to our customer base. We are looking to be paid for the performance that we deliver and our relationship with Keppel FELS is one of several crucial partnerships we are fostering that are focused on improving industry outcomes. Our KPI’s are focused on accelerating time to first oil.”
Launched in 2016 by Tor Olav Troim and Fredrik Halvorsen, Borr Drilling last year bought Transocean’s fleet ot 15 jack-up rigs for $1.35 billion.