Ferncliff orders KFELS jackup

Standard Drilling has contracted Keppel FELS to supply a newbuild KFELS B Class jackup rig.

Offshore staff

SINGAPORE -- Standard Drilling has contracted Keppel FELS to supply a newbuild KFELS B Class jackup rig.

As part of the $180-million agreement, Standard - a subsidiary of Norwegian investment company, Ferncliff TIH AS Group - has options for two similar jackups. If exercised, this would lift the total contract value to around S$550 million ($417 million).

The first “firm” rig should be delivered in 2Q 2012.

Martin Nes, CEO of Ferncliff, said: "We are seeing activities and opportunities in the jackup market recovering quickly and are positive that this demand for newer, safer, high-specification jackups will be sustained, given the growing need worldwide for premium units with capabilities to operate safely in more challenging locations.”

This latest order pushes the number of 35 KFELS B Class rigs commissioned to date to 35, 32 of which have been delivered. Features of the design include Keppel's advanced and fully-automated high capacity rack and pinion elevating system, and the Self-Positioning Fixation System. This newest rig will be able to operate in water depths of 400 ft (122 m), to a drilling depth of 30,000 ft (9,144 m), and to accommodate 120 personnel.

11/29/2010

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