Keppel Subsidiaries Clinch $79M Upgrade, Repair Contracts

Singapore-based Keppel Offshore & Marine Ltd (Keppel O&M) clinched upgrade and repair contracts, valued at $78.9 million (SGD 100 million), from repeat customers through its wholly-owned units Keppel FELS and Keppel Verolme.

Keppel FELS will upgrade and modify the ENSCO 5005 semi-submersible drilling rig for Ensco plc at its Singapore yard and the project is targeted for completion in 1Q 2014. The workscope includes upgrading major systems, machinery spaces, drill floor, derrick and living quarters as well as the renewal of steel and piping systems. The entire semi-submersible and its tanks will also be painted.

Keppel Verolme will upgrade Rowan Gorilla VI (450' ILC) for Rowan Companies, Inc. at its Rotterdam yard in the Netherlands. Keppel Verolme will conduct a special periodic survey (SPS) on the jackup, with the workscope including painting of the hull, inspection of spud cans, renewal of anodes and installation of dock plugs among other things.The jackup will also have its drilling equipment upgraded and be ready for delivery by 4Q 2013.

Keppel Verolme will also complete a full SPS program for Saipem S.p.A.on the Scarabeo 5 semi-submersible drilling rig. The yard’s scope of work comprises the overhaul of the thrusters, all anchor winches, top drive upgrade and various modification and repairs. Scarabeo 5 is scheduled for delivery in September 2013.

"Besides newbuidling projects, our yards are constantly kept busy with repairs and upgrades as well. The work is complementary and we are pleased to be able to regularly service our long-standing customers like Ensco, Rowan and Saipem. Repair and modification projects usually require quick turnovers and we have the expertise, versatility and capacity to undertake a variety of work for a wide range of rigs. In addition, our global network of yards enables us to meet the needs of our international clientele wherever they are,” Chow Yew Yuen, chief operating officer and CEO-designate of Keppel O&M said in a company release.


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