Keppel FELS Bags $280M Accommodation Semisub Deal from Floatel

Keppel FELS Limited, a subsidiary of Keppel Corporation Limited, announced Tuesday that it has bagged a $280 million contract from Floatel International Ltd. to build an accommodation semisubmersible for delivery in fourth quarter of 2015.

The new accommodation semisubmersible will be built to Keppel's proprietary SSAUTM5000NG design, with a capacity to accommodate up to 500 persons in one- and two-man cabins.

Keppel FELS had already delivered two accommodation semisubmersibles, Floatel Superior and Floatel Reliance, in 2010 and the company is currently building two more - Floatel Victory and Floatel Endurance.

"We have a strong track record in the design and construction of accommodation semisubmersibles. This fifth order is a reflection of the win-win partnership we have built with Floatel, the strength of our rig designs and the reliability of our execution. The SSAUTM5000NG is customized for operations in deep and harsh environments with world class safety and efficiency," Wong Kok Seng, managing director (Offshore) of Keppel Offshore & Marine and managing director of Keppel FELS said in a press release.

"I am pleased to report that work on Floatel Victory and Floatel Endurance are progressing on schedule and we look forward to providing yet another quality vessel to Floatel safely, on time and within budget."

The new semisubmersible will be equipped with Dynamic Positioning (DP) 3 capability and enhanced station-keeping, enabling it to operate securely alongside fixed platforms, floating platforms and Floating Production Storage and Offloading Vessels, with a full complement of deck cranes, large open deck area, workshops and fire fighting capabilities.

"Floatel Superior and Floatel Reliance, which are in our operating fleet, are both committed on long term contract and our two new buildings, Floatel Victory and Floatel Endurance are committed for work immediately on delivery. This latest order is another significant addition to our fleet of high end accommodation vessels which will further enhance our offerings to the market," Peter Jacobsson, CEO of Floatel said in the same press release.

"In teaming up with Keppel FELS, we are able to assure our customers of having a technologically advanced rig which is environmentally friendly and cost efficient. Gauging from past deliveries, we have always received the rigs on time or ahead of time and I am confident it will be the same for our next rigs to be delivered, which can then start work earlier for our customers," Jacobsson added.

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