Keppel FELS to build Petrovietnam jackup

Keppel FELS Ltd. (Keppel FELS), a wholly-owned subsidiary of Keppel Corp. Ltd., has secured a $110 million contract to build a jackup rig for Petrovietnam Drilling & Well Services Co. (PV Drilling). The new jackup, a customized KFELS B class design with accommodation for 110 men, will operate in 90 m water depth and drill to 20,000 ft. Upon completion in 1Q 2007, it will be deployed offshore Vietnam.

"We are honored to be the builder of choice for PV Drilling. Keppel FELS' relationship with PV Drilling's parent company, PetroVietnam, goes back some 20 years when we delivered Vietnam's first rig, Tam Dao, to Vietsovpetro in 1988," says Tong Chong Heong, Managing Director and COO of Keppel O&M.

With the new order, Keppel FELS has clinched six KFELS B class contracts since 2004. This also brings the number of KFELS B Class rigs in operation and under construction to 12 since its introduction in year 2000.

1/3/05