Mexico's Grupo R Orders Additional Jackups from Keppel FELS for $820M

Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured contracts from Mexican drilling company, Grupo R, to build four jackups worth $820 million.

The jackups will be built to Keppel's proprietary KFELS B Class design and are scheduled for delivery progressively from 2Q 2015 to 4Q 2015.

When completed, Keppel FELS will have built ten KFELS B Class jackups for Mexican customers since 2012, including two for PEMEX.

Wong Kok Seng, managing director (Offshore) of Keppel O&M and managing director of Keppel FELS, said, "Mexico is an important market for us and we are glad that Mexican operators have chosen the KFELS B Class as their preferred rig design and Keppel as the preferred shipyard. We look forward to support Grupo R as they expand their fleet of premium jackup rigs for the Mexican market, with safe, on time and on budget deliveries."

Customized to Grupo R's requirements, the rigs will be able to operate in water depths of up to 400 feet and drill to depths of 30,000 feet.

PEMEX, the Mexican national oil company has announced investment plans of $25.3 billion for 2013, of which $20 billion will be targeted at upstream activities. On a visit to Keppel FELS on 30 January 2013, Mr Emilio Lozoya Austin, CEO of PEMEX, said that the company is embarking on its most ambitious drilling program in decades and plans to add between eight and 12 offshore platforms to its fleet.

Ramiro Garza V., CEO of Grupo R said, "PEMEX have indicated their aim to operate the biggest fleet of jackup rigs in the world and Grupo R is well positioned to support them with four premium jackup rigs. We chose the KFELS B Class jackup design for our first shallow water rigs because of their high specifications and their proven success for PEMEX. In choosing Keppel FELS, we are also partnering a shipyard which is able to meet the needs of our customers in terms of cost-effectiveness, time, technology, quality, and safety with environmental considerations. This will further enhance our capabilities as the leader in Mexico's onshore and offshore drilling industry."

Developed by Keppel's technology arm, Offshore Technology Development, the KFELS B Class rigs incorporate Keppel's advanced and fully-automated high capacity rack and pinion jacking system, and Self-Positioning Fixation System. It provides maximum uptime with reduced emissions and discharges. For its environmental-friendly features, the KFELS B Class design was bestowed the prestigious Engineering Achievement Award from the Institution of Engineers Singapore in 2009.

The above contracts are not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.

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Keppel O&M's Order Book Swells $300M with Three New Contracts

Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has won three contracts worth a combined $300 million from repeat customers, the company disclosed in statement late Wednesday.

The contracts are for the construction of a KFELS B Class jackup from Star Drilling, the upgrading of the semisubmersible Ensco 5006 for Ensco and the upgrading of the semisubmersible Ocean Patriot for Diamond Offshore.

For the contract with Star Drilling, the jackup will be built to Keppel's proprietary design and customized to meet the owner's operational needs in water depths of up to 350 feet for deployment in offshore India. The rig will have a drilling depth capability of 30,000 feet. Delivery of the rig is scheduled for 4Q 2014.

For the contract with Ensco, Keppel FELS' major workscope includes upgrading of the living quarters, and other contract-specific upgrades for operating in Australia on the Inpex's Ichthys project. The vessel is expected to arrive at the yard in 1Q 2014 with redelivery in 2Q 2014, after which it will be chartered to Inpex for work in Australia.

For the contract with Diamond Offshore on the Ocean Patriot, Keppel FELS will undertake the fabrication and installation of four 24-foot diameter stability columns and new lower hull inboard pontoon sponsons as well as upgrade the living quarters. Work on Ocean Patriot is expected to start in June this year, with redelivery at the end of the year. When completed, the semisubmersible will be chartered to Shell for work at the Fram field in the UK North Sea.

"We are glad to be able to continue from 2012 into2013 by adding more contracts to our orderbook. Even as we add to our new orders, we continue to deliver our projects safely, on time and on budget. Just over the last two months, we delivered four newbuild rigs by up to a month ahead of schedule," Keppel O&M's Managing Director, Wong Kok Seng, said in a statement.

Analysts predicted in January that Keppel O&M will this year realize around $4.4 billion in contract wins, the bulk of its revenue coming from delivering jackups, its traditional area of strength.

Earlier this week, Keppel O&M revealed that it was handed two contracts from repeat customers MODEC and Toyo Offshore Production Systems and SBM Offshore. The two contracts in total are worth $161 million.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Keppel O&M Secures Contracts from MTOPS, SMB Offshore

Keppel Offshore & Marine (Keppel O&M), through its subsidiaries – Keppel FELS Brasil and Keppel Shipyard – have secured two contracts worth $161 million (SGD 200 million) from repeat customers, the company disclosed late Tuesday.

Keppel FELS Brasil's contract is with MODEC and Toyo Offshore Production Systems (MTOPS) to integrate the topside modules of a floating production storage and offloading (FPSO) unit. The project will be carried out at BrasFELS, Keppel FELS Brasil's yard in Brazil.
The FPSO, a project by MODEC and its partner Schahin Group, has been chartered for operations offshore Brazil for 20 years.

Integration works for the FPSO will take place from 3Q 2014 to 3Q 2015. The completed unit will have a production capacity of 150,000 barrels of oil per day and storage capacity of 1,600,000 barrels of oil.

Keppel Shipyard has meanwhile been engaged by SBM Offshore to fabricate an internal turret for a newbuild FPSO, which will be installed in the Ichthys Field, offshore Western Australia. Inpex awarded SBM Offshore the contract to engineer, procure, fabricate and supply the turret in February last year. The contract also includes assistance during the integration of the turret into the FPSO as well as during installation on the field. Installation is slated to start in mid-2015.

Keppel Shipyard's work on the 6,800-tonne Ichthys FPSO turret is scheduled to complete by Q3 2014.

"We are pleased to be selected by our customers for repeat projects as these are strong affirmations of the quality of our services. BrasFELS and MTOPS' first FPSO project was delivered safely and 19 days ahead of schedule; the second project is underway and on track for delivery in 2Q 2014. Keppel Shipyard has collaborated with SBM Offshore on some 17 major conversion and fabrication projects," Keppel O&M's CEO, Tong Chong Heong, said in a statement.

Keppel Shipyard's ongoing projects for SBM Offshore are the conversion of FPSO OSX-2 for Brazil as well as modification and upgrading of FPSO N’Goma for Angola. SBM Offshore is also working with Keppel Singmarine on the newbuilding of a multi-purpose dive support construction vessel.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Keppel O&M Secures Contracts from MTOPS, SMB Offshore

Keppel Offshore & Marine (Keppel O&M), through its subsidiaries – Keppel FELS Brasil and Keppel Shipyard – have secured two contracts worth $161 million (SGD 200 million) from repeat customers, the company disclosed late Tuesday.

Keppel FELS Brasil's contract is with MODEC and Toyo Offshore Production Systems (MTOPS) to integrate the topside modules of a floating production storage and offloading (FPSO) unit. The project will be carried out at BrasFELS, Keppel FELS Brasil's yard in Brazil.
The FPSO, a project by MODEC and its partner Schahin Group, has been chartered for operations offshore Brazil for 20 years.

Integration works for the FPSO will take place from 3Q 2014 to 3Q 2015. The completed unit will have a production capacity of 150,000 barrels of oil per day and storage capacity of 1,600,000 barrels of oil.

Keppel Shipyard has meanwhile been engaged by SBM Offshore to fabricate an internal turret for a newbuild FPSO, which will be installed in the Ichthys Field, offshore Western Australia. Inpex awarded SBM Offshore the contract to engineer, procure, fabricate and supply the turret in February last year. The contract also includes assistance during the integration of the turret into the FPSO as well as during installation on the field. Installation is slated to start in mid-2015.

Keppel Shipyard's work on the 6,800-tonne Ichthys FPSO turret is scheduled to complete by Q3 2014.

"We are pleased to be selected by our customers for repeat projects as these are strong affirmations of the quality of our services. BrasFELS and MTOPS' first FPSO project was delivered safely and 19 days ahead of schedule; the second project is underway and on track for delivery in 2Q 2014. Keppel Shipyard has collaborated with SBM Offshore on some 17 major conversion and fabrication projects," Keppel O&M's CEO, Tong Chong Heong, said in a statement.

Keppel Shipyard's ongoing projects for SBM Offshore are the conversion of FPSO OSX-2 for Brazil as well as modification and upgrading of FPSO N’Goma for Angola. SBM Offshore is also working with Keppel Singmarine on the newbuilding of a multi-purpose dive support construction vessel.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Keppel FELS Delivers Two Jackups Ahead of Schedule

Keppel FELS, a subsidiary of Keppel O&M, revealed Monday that it has delivered two jackup rigs ahead of schedule, bagging it a combined bonus of $810,000 (SDG1.5 million).

Transocean Siam Driller was delivered 22 days ahead of schedule, while the second unit – AOD 1 – was delivered 29 days ahead of schedule. Both of the rigs were handed over to their respective owners at the end of January, a spokesperson with Keppel FELS confirmed.

Customized to meet Transocean's requirements, Siam Driller has been contracted to Chevron to work in offshore Thailand, while AOD 1 has been contracted to Saudi Aramco to work in offshore Saudi Arabia.

Siam Driller is built to the Super B Class Bigfoot design, but enhanced with larger spud cans so that it is suitable for drilling where soft soil is predominant. The rig is installed with offline stand building features in its drilling system package, which allows for simultaneous drilling and the preparation of drill pipes to take place. The Super B Class jackup is an enhanced version of the standard B Class; the former is able to drill to a depth of 35,000 feet.

AOD 1 is built to the standard B Class design. The jackup will be able to operate in water depths of 400 feet, drill to a depth of 30,000 feet and accommodate 150 people.

Meanwhile, Transocean has on order a second Super B Class jackup with Keppel FELS. The jackup, Transocean Andaman, is at present under construction and scheduled to be delivered in March this year.

Commenting on the company's performance, Keppel O&M’s Managing Director, Wong Kok Seng said in a statement: "With some 20 rigs to deliver in 2013, we are working hard to maintain our high standards of delivering on time, within budget and without incidents. Of the rigs to be delivered this year, 15 are built to our KELS B Class family of designs, four to our Super A Class design and one to our proprietary semisubmersible drilling tender design."

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Keppel O&M to Deliver First Jackup for 2013 Ahead of Schedule

Keppel Offshore & Marine (Keppel O&M) is aiming to deliver its first jackup for 2013 - Dynamic Vision (300' ILC jackup) - to Vision Drilling by the end of January, two months ahead of schedule, a company spokesperson confirmed with Rigzone Monday.

Under the original contract inked, Keppel FELS – the shipyard allocated to build the jackup – was required to deliver the unit by March 2013. The shipyard's ability to deliver ahead of schedule garners Keppel O&M an early delivery bonus of $1 million.

Dynamic Vision will be chartered to India's Oil and Natural Gas Corporation (ONGC) for five years, the spokesperson added.

Built and optimized to meet the unique requirements of India, Dynamic Vision – a KFELS B Class jackup – is capable of operating in water depths of 350 feet and drilling down to 30,000 feet. Keppel O&M’s fully-automated high capacity rack and pinion elevating system, and self-positioning fixation system have been incorporated into the jackup’s design.

Commenting on the company's performance, Keppel O&M's Managing Director, Wong Kok Seng said in a statement released on Saturday: "We are pleased to be able to deliver our first rig of 2013 two months ahead of schedule. It augurs well for the rest of the 19 rigs that we are expected to deliver this year."

Keppel FELS is slated to deliver 20 offshore rigs this year, a record number for any shipyard worldwide. 

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit http://www.riglogix.com/.

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