KFELS Completes Atwood Beacon Ahead of Schedule

Keppel FELS has successfully completed the construction of its third KFELS MOD V 'B' class jack-up rig five weeks ahead of contractual delivery schedule. The construction of the Atwood Beacon took 21 months, following the signing of the contract in late July 2001. The jack-up will be delivered to Atwood Oceanics on May 24, 2003. By then, additional works requested by the client will also be completed.

Keppel FELS and Atwood Oceanics signed the Protocol of Work Completion on April 22, 2003, affirming the unit's readiness for delivery and that the construction work, required tests and trials, and all component parts, equipment and systems incorporated on the jack-up have been satisfactorily completed and accepted.

Custom-designed and built for Atwood Oceanics Inc, the Atwood Beacon becomes the new benchmark for the generation of ultra premium deepwater jack-ups.

Mr. John Irwin, CEO of Atwood Oceanics said, "The KFELS team has throughout the project demonstrated a high level of co-operation, understanding of the project needs as well as our requirements, strong planning and execution, and a commitment to safety and quality."

"We expect the Atwood Beacon to be an outstanding unit for meeting the needs of our international clients with tremendous overall capability, efficiency and reliable, modern technology."

Mr. Tong Chong Heong, Managing Director/COO of Keppel O&M, the parent company of KFELS, said, "We introduced the KFELS MOD V 'B' class design three years ago to meet the demand for a cost-effective jack-up rig that is able to withstand harsher environments."

"We are glad that this design has been well accepted and has become the hallmark of excellence and the customer's preferred choice of rig in its own class."

The Atwood Beacon would be the third in the series with the first two units operating for ENSCO Offshore. The fourth and fifth rigs are currently under construction.

Atwood Beacon has been designed to operate in water depths up to 400ft worldwide outside the Arctic and North Sea. With a 70ft cantilever reach and 7500kips operating variable load capacity, she is built to work on large, multi-well development platforms for extended reach directional and horizontal wells.

This KFELS MOD V Enhanced 'B' class jack-up drilling unit is classed under American Bureau of Shipping and complies with USCG requirements for operating in the U.S. continental shelf and incorporates state-of-the art features like the patented Self Positioning Fixation system, developed by Offshore Technology Development (OTD), a R&D arm of Keppel O&M.