Keppel Successfully Delivers Series of 5 Jackups to Scorpion

Keppel AmFELS Inc., a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M) in the US Gulf of Mexico, has delivered the jackup drilling rig, Offshore Intrepid, to Scorpion Intrepid Ltd. a subsidiary of Scorpion Offshore Ltd. (Scorpion) on time.

With this delivery, Keppel AmFELS has completed the series of five LeTourneau Super 116 jackup rigs commissioned by Scorpion in 2005 without delay.

Offshore Intrepid was named by Mrs. Drucie Cole, spouse of Mr. Jon Cole, Scorpion's President & CEO, at the Keppel AmFELS yard on January 24, 2009. This rig has been chartered by Odfjell Drilling Services to operate in the Arabian Gulf for 41 months, beginning 2Q2009.

Mr. G.S. Tan, President & CEO of Keppel AmFELS, said, "We aim to be the partner of choice for our customers, delivering high quality products, on time, within budget and without incidents. Over the last few years, we have worked hand-in-hand with Scorpion on the development of their offshore fleet. The successful completion of all five rigs is due to the support of our valued customer, as well as our sub-contractors and vendors."

Mr Jon Cole, said, "The Offshore Intrepid represents Scorpion's fifth and final rig in the series constructed by Keppel AmFELS. We remain pleased with the quality of work and close working relationship developed between the companies during the past four years."

The first two units, Offshore Courageous and Offshore Defender, were delivered in 2007 while the third and fourth, Offshore Resolute and Offshore Vigilant, were delivered in 2008.

Identical to her sister rigs, Offshore Intrepid incorporates a 70 ft cantilever, the maximum reach currently available for all but a few harsh environment units. This rig is capable of working in 350 ft of water as outfitted or in water of depths up to 400 ft through the installation of additional leg sections. Its drilling depth is approximately 30,000 feet.

"Over the last 19 years, Keppel AmFELS has grown its depth and breadth as a highly credible offshore yard in the Gulf of Mexico. We provide one-stop services to support our wide clientele operating in this region, be it for newbuilds or repair jobs," said Mr Tan.

"While there is a general slowdown in new orders worldwide, the fundamentals in the offshore oil and gas industry still persist. There is a need for drilling and production activities to support long term demand for energy, and we believe that Keppel AmFELS is well-positioned to capture opportunities arising in the Gulf of Mexico and its surrounding regions."

Keppel AmFELS is presently involved in the construction of jackup rigs for Perforadora Central and Rowan Companies.

Located in Brownsville, Texas, Keppel AmFELS reinforces Keppel Offshore & Marine's presence in the Gulf of Mexico and its strategy to be near its markets and customers.

Since its establishment in 1990, Keppel AmFELS has built up its facilities and equipment to become the most well equipped offshore shipyard in the Gulf of Mexico. The Yard engages in the construction, refurbishment, conversion, life extension and repair of a complete range of mobile drilling rigs and platforms. Its comprehensive facilities are first class, including a drydock capable of docking the largest semisubmersible drilling units, and a modern steel processing plant.

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