Keppel FELS Bags $206M Jackup Order from Parden

Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), bagged a contract to build a jackup, worth $206 million, from Uruguay-based Parden Holding.

When completed in 4Q 2015, the KFELS B Class design jackup - to be customized to Parden's requirement - will be equipped to operate in depths of up to 400 feet and drill to depths of 30,000 feet. The jackup will have accommodation for up to 150 persons.

"We are glad to be able to support Parden Holding with their very first high specification jackup as they aim to penetrate the offshore oil and gas market in Mexico. It is an affirmation of the KFELS B Class design and our strong shipyard capabilities. When completed in 2015, we would have 66 KFELS B Class rigs in the market," Wong Kok Seng, managing director (Offshore) of Keppel O&M and managing director of Keppel FELS said in a press release.

This contract brings the total number of KFELS B Class jackups ordered for the Mexican market since 2012 to 12.

Besides this contract, Keppel FELS is also building another 8 KFELS B Class jackups for the Mexican market. This included an order by another Mexican company, Grupo R, which contracted KFELS to build a similar jackup in July for $206 million.

"Even with the number of new rigs being ordered, we continue to see strong demand for high specification jackups in the Gulf of Mexico as the country looks to increase its production of oil and gas. Having a proven rig like the KFELS B jackup will enable us to seamlessly service the demands of the Mexican offshore drilling industry. In choosing Keppel FELS, we are confident of receiving a high quality rig on time, on budget, and with an excellent safety record," Panaretos Lagos, CEO of Parden said in the same release.

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