ENSCO 8502 Slated for Delivery to Nexen in Early 2010

Ensco 8500 Series
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Keppel to deliver third ENSCO 8500 Series® ultra deepwater semisubmersible on time and within budget

Keppel FELS Limited (Keppel FELS) is on track to deliver ENSCO 8502, the third of seven ENSCO 8500 Series® semisubmersible drilling rigs it has been contracted to build exclusively for Ensco International Incorporated.

Today, the rig was named at Keppel FELS by Lady Sponsor, Cambria Reinsborough, wife of Brian Reinsborough, President of Nexen Petroleum USA Inc, in the presence of Guest of Honor, Heng Chee How, Singapore's Minister of State, Prime Minister's Office.

Following her scheduled delivery, mobilization and final outfitting, ENSCO 8502 will commence operations in the US Gulf of Mexico under a two-year contract with Nexen Petroleum U.S.A. Inc. during the second quarter of 2010.

Daniel Rabun, Chairman, President & CEO of Ensco, said, "We are very pleased with Keppel FELS's construction of the ENSCO 8500 Series® ultra-deepwater rigs.

"We have already invested more than half of the US $3 billion committed to the ENSCO 8500 Series® newbuild programme, and we are well on our way toward having the world's largest fleet of ultra-deepwater semisubmersibles capable of drilling in water depths of 7,500 feet or deeper.

"When ENSCO 8502 is delivered early next year, we will have four ultra-deepwater semisubmersibles in our active fleet to complement our premium jackups around the globe."

Tong Chong Heong, CEO of Keppel FELS, said, "The Keppel and Ensco win-win partnership has flourished with solid trust and teamwork developed over two decades of collaboration.

"As a result of our accumulated experience and in-depth understanding of the ENSCO 8500 Series®, we have managed to improve construction lead time by 1.1 million manhours for ENSCO 8502, as compared to the first rig in this Series. This represents a 15% boost in efficiency.

"For the next four ENSCO 8500 Series® rigs, we are confident of timely deliveries as we support Ensco in launching a state-of-the-art fleet of quality, high performance ultra deepwater rigs."

Keppel Offshore & Marine Group, through its global network of yards delivering on its 'Near Market, Near Customer' strategy, constructed ten of Ensco's world-class jackups, which form a substantial part of the rig owner's premium fleet of 42-jackups.

When the ENSCO 8500 Series® is completed, Keppel-built rigs will make up 30% of the leading driller's premium fleet. Construction of the next four rigs remains on schedule with expected deliveries extending from the fourth quarter of 2010 into 2012.


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