Keppel AmFELS Bags $240M Deal to Build Jackup for Perforadora Central

Singapore-based Keppel Corporation Limited announced Thursday that Keppel AmFELS LLC, a U.S.-based wholly-owned unit of the company's subsidiary Keppel Offshore & Marine Ltd. (Keppel O&M), has won a contract from Central Panuco S.A. De C.V., a subsidiary of Mexico's Perforadora Central S.V. De C.V. (Perforadora Central) to build a KFELS B Class jackup worth $240 million, including owner furnished equipment.

Scheduled for delivery in 4Q 2015, the jackup is intended for operations in offshore Mexico. Built to Keppel's market-established KFELS B Class design, the jackup will be able to operate in water depths of up to 400 feet, drill to depths of 30,000 feet with accommodation for 126 persons and a blowout preventer (BOP) system of 18.75 x 15,000 pounds per square inch (PSI).

With this latest contract, a total of 13 KFELS B Class jackups have been ordered for the Mexican market since 2010.

Chow Yew Yuen, chairman of Keppel AmFELS, COO and CEO-Designate of Keppel O&M, said, "This is the fifth jackup that Keppel AmFELS is building for Perforadora Central since 2002. We have steadily built up a strong partnership with them and are pleased that our valued customer is once again entrusting us with a newbuild order for the Mexican market.

"We are very honored to be building another of our proprietary KFELS B Class jackup for them, and we look forward to delivering it in keeping with Keppel's hallmark of safe, on-time and within budget execution."

To date, Keppel AmFELS has completed Tonala (375' ILC), an ultra premium KFELS B Class jackup for Perforadora Central in 2004, followed by Tuxpan (375' ILC), a LeTourneau S116E jackup in 2010. The Papaloapan (375' ILC) jackup, which was ordered by Perforadora Central in March 2011, was successfully delivered in April this year. Currently under construction is the Coatzacoalcos (375' ILC) jackup which is on track for completion in 1Q 2014.

A spokesperson from Perforadora Central said, "There is strong demand from Pemex for high quality rigs and the KFELS B Class is a top class jackup with a proven track record operating in Mexico. Our current KFELS B Class jackup in operation, the Tonala, has been performing outstandingly for Pemex and we are confident that this next jackup will be just as successful. It is an important addition to our portfolio of premium rigs as we expand our presence to be a leading provider of drilling solutions in Mexico.


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