Keppel FELS Lands Jackup Contract from Vietnam

Keppel FELS Limited announced that it has received a $210 million contract from Vietnam's PV Drilling Overseas (PVDO) for a KFELS B Class jackup.

The high specification jackup - the 19th KFELS B Class rig on order at Keppel - is scheduled for delivery in Q1, 2015. Keppel has already delivered 45 of these jackups since 2000.

"We are looking to catch up on the huge demand for offshore rigs and actively seize the opportunities coming. To meet this aim, we are pleased to be able to acquire a premium jackup with such an early delivery schedule. This is an important addition to our current fleet of rigs to expand our fleet through acquisitions and charters to accelerate our drilling programme for Vietnam and the overseas market," Pham Tien Dung, Chairman of PVDO and CEO of PV Drilling said in the Keppel FELS press release.

The KFELS B Class jackup design, developed by Keppel's technology arm's Offshore Technology Development, is able to operate in water depths of 400 feet, drilling depth of 30,000 feet and can accommodate up to 150 men.

"We are pleased to provide PVDO with a KFELS B Class jackup to suit their schedule. Even though we have a number of deliveries slated for 2015, our construction program allows us the flexibility to meet our customer's requirements," Wong Kok Seng, managing director (Offshore) of Keppel O&M and managing director of Keppel FELS said in the press release.

"Having just delivered our 45th KFELS B Class rig, and with another 19 on order, this proven design has been the rig of choice for the offshore drilling industry. We look forward to providing PVDO with a high quality rig on time, on budget and in a safe manner."


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