Seatrium New Energy delivers jackup rig ‘on schedule’
Wong Pei Ting
SEATRIUM Group’s unit Seatrium New Energy, formerly known as Keppel Fels, on Tuesday (Aug 22) delivered its second jackup rig to Adnoc Drilling.
Announcing this in a bourse filing, the Singapore-based shipbuilder, which was renamed from Sembcorp Marine, said this was significant as the rig, called AlSila, was delivered on schedule, showcasing the group’s ability to “deliver world-class assets on time and on budget”.
Seatrium and Seatrium New Energy were given new names following Sembcorp Marine’s merger with Keppel Offshore & Marine (Keppel O&M) earlier this year.
The jackup rig delivered on Tuesday was built at Seatrium’s Pioneer Yard in Singapore, and is part of a series of five rigs that Seatrium New Energy had been building for Borr Drilling.
The first was delivered in November last year. At that time, Keppel O&M said a payment of some US$160 million was received on the rig’s delivery, adding that it expects to receive at least US$352 million for all three rigs between 2022 and 2023.
On Tuesday, Seatrium said the construction contracts for the three rigs have since been novated by Borr Drilling to Adnoc Drilling.
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It said AlSila is capable of operating in water depths of over 400 feet with the ability to drill to depths of up to 30,000 feet for horizontal and vertical deep wells.
The rig is also equipped with an advanced and fully-automated high capacity rack and pinion elevating system, on top of a self-positioning fixation system that has the capacity to accommodate 150 people with full amenities.
The rigs’ arrivals, added Seatrium, have the potential to boost the offshore drilling industry’s efficiency and productivity.
Nine proprietary legacy rigs are currently contracted for deployment in the Middle East since 2022, it noted.
Shares of Seatrium closed up 0.8 per cent or S$0.001 at S$0.135 before the announcement on Tuesday.
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