Keppel Delivers Al-Khor Jackup Ahead of Schedule

Keppel FELS will deliver its first jackup drilling rig ahead of time to Qatar's national drilling company, Gulf Drilling International Ltd.

Built to Keppel's proprietary KFELS B Class design, the first rig will be named Al-Khor, after one of Qatar's historical cities which has contributed to the development of Liquefied Natural Gas (LNG) in the country in recent years.

Mr. Lim Boon Heng, Minister, Prime Minister's Office of the Republic of Singapore and Mr. S Al-Shirrawi, Chairman of the Board of Directors of GDI and Finance Director of Qatar Petroleum graced the occasion of its inauguration ceremony at Keppel FELS in Singapore.

Minister Lim said, "This event to mark Keppel's completion of this premium rig for Gulf Drilling International is the first major Singaporean project to be accomplished successfully for Qatar.

"It showcases Singaporean companies' dedication and commitment to deliver quality products and services. This is significant to further strengthening the warm relationship that is growing between companies in Singapore and Qatar.

"We hope that with Gulf Drilling International and Keppel FELS' sterling example, more of our companies from both countries will be encouraged to engage each other in business."

Mr. Choo Chiau Beng, Senior Executive Director of Keppel Corporation Limited and Chairman/Chief Executive Officer of Keppel O&M, said, "Keppel is proud to partner Gulf Drilling International on its quest to provide premium drilling services to the oil and gas industry in Qatar and the region.

"The early completion of Al Khor reflects Keppel's commitment to play a part in the development of Qatar. It represents Keppel's promise to deliver high quality products and services on time and on budget."

Al-Khor has been built to GDI's specifications for operations in water depths of up to 300 feet and drilling depth of down to 30,000 feet. The rig can accommodate up to 110 men and is readily upgradeable for higher drilling capabilities in water depths of up to 400 feet. When delivered, it will contribute to the development of Qatar's Liquefied Natural Gas (LNG) industry, as the State strives towards being the world's largest exporter of LNG by 2012.

Mr. Mohammed S Al-Shirrawi, Chairman of the Board of Directors of GDI, said at the ceremony, "This achievement would not have happened if not with the high commitment, deliberation and dedication from all parties involved in this project."

Keppel FELS is a wholly-owned subsidiary of Keppel Corporation, through Keppel Offshore & Marine, a leader in offshore rigs, shiprepair and conversion and specialized shipbuilding. Keppel O&M's near market, near customer strategy is bolstered by a global network of 17 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry.

Gulf Drilling Company (GDI) is Qatar's first offshore and onshore drilling company. A 60/40 joint venture (JV), GDI was established in May 2004 by Qatar Petroleum and Japan Drilling Company. Based in Doha, GDI aims to provide quality oil and gas drilling and related services to regional and international oil and gas companies.

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