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Keppel FELS bags US$240m jackup rig contract

KEPPEL FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured a contract from BOT Lease (BOTL), an affiliated company of The Bank of Tokyo-Mitsubishi UFJ, for a KFELS Super B Class jackup rig worth about US$240 million.

Scheduled for completion at end-2016, the rig - which is provisionally named Hakuryu 15 - will be operated by Japan Drilling Co Ltd (JDC) based on the leased agreement with BOTL.

"We are pleased for this opportunity to support BOTL, and to join hands with our valued customer JDC once again. Hakuryu 15 is the second KFELS Super B Class jackup rig that will join JDC's fleet, and their support is a reiteration of their trust and confidence in our proprietary solutions and companies," Wong Kok Seng, managing director (offshore) of Keppel O&M, said.

"The KFELS Super B Class is an innovative solution for drilling rigs that can operate in deeper depths and at higher temperature and pressure levels. With 11 such rigs successfully operating around the world, we are confident this new addition will be just as successful for BOTL and JDC. Our strong understanding with JDC developed over several projects will stand us in good stead in delivering this rig to their highest standards, safely, on time and within budget."

Apart from newbuilding projects, Keppel O&M's yards in Singapore and the US have also collaborated with JDC on the repair and maintenance of rigs such as Hakuryu 5 and Hakuryu 10.

"Over the years, we have entrusted several of our newbuilding and repair projects to Keppel and they have proven to be a worthy partner," Yuichiro Ichikawa, president and representative director of JDC, said.