Keppel Offshore & Marine boosts order book by a whopping US$300m

Thanks to 3 repeat customers.

According to a release, Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured three contracts worth a combined US$300 million from repeat customers.

The contracts are for the construction of a KFELS B Class jackup rig from Star Drilling, a Singapore-based company promoted by the companies of D.P. Jindal Group; the upgrading of the semisubmersible ENSCO 5006 for Ensco PLC (Ensco); and the upgrading of the semisubmersible Ocean Patriot for Diamond Offshore.

For the contract with Jindal, the jackup rig will be built to Keppel's proprietary design and customised to meet the owner's operational needs in water depths of up to 350 feet for deployment in offshore India. The rig will have a drilling depth capability of 30,000 feet. Delivery of the rig is scheduled for 4Q 2014.

The D.P. Jindal Group of companies has business interests in the oil and gas sector and provides offshore drilling services as well as manufacturing of seamless & ERW pipes.

For the contract with Ensco, Keppel FELS' major workscope on the ENSCO 5006 includes upgrading of the living quarters, and other contract-specific upgrades for operating in Australia on the INPEX Ichthys Project.

The vessel is expected to arrive at the yard in 1Q 2014 with redelivery in 2Q 2014, after which it will be chartered to INPEX for work in Australia.

For the contract with Diamond Offshore on the Ocean Patriot, Keppel FELS will undertake the fabrication and installation of four 24-foot diameter stability columns and new lower hull inboard pontoon sponsons as well as upgrade the living quarters.

Work on Ocean Patriot is expected to commence in June 2013 with redelivery at end 2013. When completed, the semisubmersible will be chartered to Shell for work at the Fram field in the UK North Sea.