Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Corporation's unit Keppel Offshore & Marine (Keppel O&M), disclosed Monday that it has signed an engineering services agreement with Workfox B.V, a subsidiary of the Seafox Group (Seafox), to embark on an engineering study of a purpose-built accommodation jackup rig with well intervention and P&A (plug and abandonment) features.
The project, which is named Seafox 8, is being developed to address a gap in the current P&A market. Subsea fields are reaching the end of their productive lives in areas such as the North Sea and the Gulf of Mexico. With increasing environmental concerns and regulations, there are a substantial number of wells in both these regions that will need to be properly sealed up in the next few years.
Seafox 8 will be able to offer P&A services, well intervention services, as well as accommodation and crane support services. It has a spacious deck and comprehensive amenities for the comfort of 282 persons on board. The jackup can also be configured for other offshore support services. Compared to existing jackups chartered for P&A work, Seafox 8 is expected to be 25-30 percent more economical in terms of dayrates. It will be the first accommodation and service jackup unit that is specifically suited to support rigless activities for P&A and well services at a competitive cost.
Leveraging the successful partnership of an earlier project, Seafox 5, Keppel O&M is also in discussion with Seafox to enter into a joint venture to place an order for Seafox 8 upon completion of the study, which is expected in 2H 2014.
Keesjan Cordia, CEO of Seafox, said, "With our background in providing accommodation support, workover, construction, and decommissioning services to the offshore oil & gas industry, we noticed the strong demand for P&A services and identified a need for a specialized rig in this market. We believe the jackup we are conceiving, Seafox 8, offers the ideal solution as it can work all year round including during the North Sea's winter period and undertake multiple services at a time. It is a real workhorse and unlike drilling rigs which are often used to do P&A currently, Seafox 8 has the crane capacity to assist with maintenance and well services activities. It has NORSOK-specified accommodation for crew and client personnel, and a lower operating cost than existing equipment with a single role purpose."
"We are glad to continue this winning partnership we have with Keppel in coming up with innovative products. Seafox 5, a multi-purpose self-elevating platform (MPSEP), which they built for us previously, has been performing extremely well and I am confident that Seafox 8 will be just as successful."
The hull and legs of the new generation jackup rig will be based on Keppel's new KFELS J Class design which is customized to operate in water depths of up to 367 feet (112 meters) in the harsh offshore environmental conditions of the Norwegian North Sea.
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