Keppel delivers first semisub in 14 years to Azerbaijan
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
THE first semi-submersible rig (semisub) to be built in Singapore over the last 14 years for drilling offshore Azerbaijan is nearing delivery.
The semisub has arrived in Singapore-based yard group Keppel Offshore & Marine's (O&M) subsidiary Caspian Shipyard Company (CSC).
CSC is on track to deliver the semisub to Caspian Drilling Company Ltd (CDC), a subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR), Keppel O&M said after trading close on Thursday.
This delivery by a Singapore-based yard group to Azerbaijan comes 14 years after Keppel O&M delivered the first semisub, Maersk Explorer, to the Caspian country back in 2003.
Delivering the columns of the semisub built in Singapore was an engineering feat of its own as the structures had to be transported through the narrow Volga-Don canal to reach Baku in Azerbaijan.
The Business Times understands that the rig will undergo modification before its final delivery to fit the purpose of a contract in the offing for its owner, CDC.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Shielded by a reportedly low per barrel production cost of US$20, upstream oil and gas projects off Azerbajian remain economical even at US$50 per barrel oil prices.
CDC is understood to be nailing down the details for potentially a long-term charter with an oil major.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
