Keppel to deliver fourth deepwater rig for Ensco

Keppel reaps progressive productivity gains by trimming construction lead time by about 1 million manhours.

Keppel FELS Limited (Keppel FELS) is on track to deliver ENSCO 8503, the fourth of seven ENSCO 8500 Series® semisubmersible drilling rigs being built exclusively for Ensco plc, according to a Keppel report.

ENSCO 8503 is scheduled to commence a two-year primary term with Cobalt International Energy, L.P. in the Gulf of Mexico in early 2011.

The rig was named at Keppel FELS on Friday by Lady Sponsor, Mrs Cynthia Bryant, spouse of Mr Joseph H. Bryant, Chairman & CEO of Cobalt International Energy, L.P., in the presence of Guest of Honour, Ms Ho Ching, Executive Director & CEO of Temasek Holdings Pte Ltd.

Ms Ho Ching shared, “The collaboration with Ensco over the last two decades has enabled Keppel FELS to hone its construction and engineering competencies, its human capital development, and safety programmes, burnishing its reputation as a leading rigbuilder.

“Keppel FELS’s execution capabilities and track record have given it a strong edge overseas, and done Singapore proud.”

Mr Daniel W. Rabun, Ensco's Chairman, President & CEO, said, “Given our long-term relationship and confidence in Keppel FELS, Ensco has awarded Keppel FELS contracts for all seven rigs in the ENSCO 8500 Series®.

“ENSCO 8500 and ENSCO 8501 are the first two deepwater rigs to be certified by the Bureau of Ocean Energy Management Regulation and Enforcement (BOEMRE) under NTL No. 2010 – NO5 in the U.S. Gulf of Mexico under the new regulatory framework, and we anticipate similar success for ENSCO 8503.”

“Like her preceding sister rigs, ENSCO 8503 and the remaining three rigs being built are reaping progressive productivity gains, due to Keppel FELS’s accumulated experience and collaboration with Ensco.”

Over the course of completing the first four units of the more than US$3 billion ENSCO 8500 Series® seven-rig fleet, Keppel FELS has trimmed construction lead time by about 1 million manhours, compared to the first unit.

Mr Tong Chong Heong, CEO of Keppel O&M, said, “Keppel has grown with Ensco over the years and witnessed its rise from a fledging energy company to a premier global offshore drilling contractor with a formidable fleet of premium rigs across the world.

“Through the ENSCO 8500 Series® programme, we have sharpened our engineering edge and construction methodology. This has culminated in the exceptional safety record and significant productivity improvements achieved in building ENSCO 8503.

“With the knowledge and insights amassed from the earlier rigs, we remain focused on completing the rest of the ENSCO 8500 Series® fleet, on time, within budget and with the highest safety standards.”

When the ENSCO 8500 Series® is completed, Keppel-built rigs will make up a third of the leading driller’s premium fleet. Construction of the next three rigs remains on schedule with expected deliveries extending to 2012.