Keppel FELS delivers sixth of 11 jack-up rigs to Borr Drilling

A WHOLLY-OWNED subsidiary of Keppel Corp's offshore and marine business has delivered a sixth jack-up rig to international drilling contractor Borr Drilling safely, on time and within budget, Keppel said on Thursday.

Borr Drilling had ordered 11 jack-up rigs in total from the Keppel Offshore & Marine (Keppel O&M) subsidiary, Keppel FELS.

The rig, named Hild, was built to Keppel's proprietary KFELS Super B Class design. It is capable of operating in 400 feet water depth and drilling to 35,000 feet.

Keppel said its KFELS B Class designs, which are developed by Keppel O&M's technology arm - Offshore Technology Development, have a market share of about one quarter of all jack-up rigs delivered since 2000.

These rigs are equipped with a maximum combined cantilever load of 2,700 kips and high capacity hook loads of two million pounds (about 907 tonnes). They incorporate industry-leading safety and environmentally-friendly features, providing maximum uptime with reduced emissions and discharges.

Following the delivery of Hild, Borr Drilling now has nine KFELS B Class and two KFELS A Class rigs in its fleet. Keppel O&M had previously delivered the Saga, Skald, Thor, Hermod and Heimdal jack-up rigs to Borr Drilling.

Keppel shares were trading at S$5.65 as at 3.27pm on Thursday after the announcement, down S$0.05 or 0.9 per cent.