Mærsk lets S$780 million semi contract

Offshore staff

AP Moller-Mærsk awarded a S$780 million contract to Keppel FELS Ltd. for two semi-submersible drilling platforms. Keppel FELS will deliver the two deepwater development semisubmersibles in 2008 and 2009 respectively.

Mærsk chose the proprietary DSS 21 design developed by Keppel's Deepwater Technology Group (DTG) and Marine Structure Consultants (MSC). Under the agreement, Mærsk will supply the drilling and other equipment.

The contract carries an option for an additional unit of similar design and capacity to be exercised within 12 months. The option is subject to price adjustments for steel material, equipment, labor, and currency fluctuations.

The rigs are customized for deepwater development operations. They will use a dynamic positioning system with the ability to attach to a pre-laid mooring system. Capable of operating in 3,000 m water depths, DTG and MSC designed the new semisubmersibles for moderate environmental conditions like those off West Africa, Brazil, Gulf of Mexico, and Southeast Asia. Each rig can accommodate up to 180 people.

"Exploration in deeper water has given good results and now enters the development phase. In a response to our customers' request for lower cost development solutions, we have together with Keppel and MSC designed a high efficient rig to support our customers' ambitions," says Claus V. Hemmingsen, CEO of Mærsk Contractors, a subsidiary of Mærsk.

5/31/05