Keppel on track to deliver fifth semisub to Floatel

KEPPEL Offshore & Marine (Keppel O&M) subsidiary Keppel Fels is on track to deliver within the contracted schedule a fifth high-specification accommodation semi-submersible (semisub) to Floatel International.

The project is executed on budget and with a perfect safety record, Keppel O&M said in a release on Friday.

The latest semisub, built to Keppel's proprietary SSAU 5000 NG design, was named Floatel Triumph at a ceremony on Friday. It will be chartered by Inpex Australia for work in the Ichthys gas field development off Western Australia.

Keppel Fels has delivered two SSAU design semisubs - Floatel Reliance and Floatel Victory - to the same client. Floatel Victory is currently in operations for BP at the Clair Ridge field development off the UK. Floatel Reliance recently completed its contract with Petrobras in Brazil.

In addition, Floatel has also taken delivery of two other semisubs built to Keppel's DSS 20NS design from Keppel Fels. The two DSS 20 NS semisubs - Floatel Superior and Floatel Endurance - have been chartered to Premier Oil for work in UK's Solan field and Chevron in Australia's Wheatstone gas project.

Floatel chief executive Peter Jacobsson said: "Each of the accommodation vessels that Keppel has delivered to Floatel has been performing very well. They are uniquely designed to provide superior stability, safety and living conditions, meeting the stringent rules and regulations for worldwide operations."

Keppel O&M managing director Wong Kok Seng said: "As a leading designer, builder and repairer of mobile offshore rig, we are able to provide the highest quality and most cost effective solutions that are customised to suit our clients' needs. This includes non-drilling solutions, like accommodation vessels and offshore maintenance platforms.

"Despite the current challenging environment, all our vessels continue to receive strong demand and have high utilisation rates. In the current oil price environment, sustaining production levels is key for oil companies and accommodation units are required as they reduce downtime during period of essential maintenance."

Mr Jacobsson also noted - citing a Douglas Westwood forecast - the annualised growth rate in the offshore accommodation market will be sustained at 3 per cent from 2015 to 2020.