Keppel acquires LeTourneau jackup design range
Keppel Offshore & Marine USA has completed the acquisition of Cameron International Corp.’s offshore product division.
SINGAPORE – Keppel Offshore & Marine USA has completed the acquisition of Cameron International Corp.’s offshore product division, comprising the LeTourneau jackup rig designs, rig kit business, aftersales and aftermarket services.
The acquired company will operate as Keppel LeTourneau with offices in the US, UAE, and Singapore.
LeTourneau’s jackup rig designs are proven in a variety of environments: they include the Super 116E, Workhorse, Super Gorilla XL, andJaguar. The acquisition will swell Keppel’s range for jackups to more than 26 designs covering almost every requirement and condition in the market, the company claims.
The company will have the flexibility to customize and build the LeTourneau rigs from its yards worldwide or to license the design to any client or shipyard through the sale of rig kits. The rig kits include jackup leg components, elevating units/jacking systems and cantilever/skidding systems, with options for marine equipment such as cranes and anchor winches.
The aftersales and aftermarket services includes the sale of spare parts, field service (troubleshooting, inspection, installation, and commissioning), operator training, repair and refurbishment of equipment and bespoke engineering services.
Around 260 (40%) of jackups currently in service are of the LeTourneau or Keppel designs. Of these, more than 100 are more than 15 years old and need regular servicing. Besides repairs, upgrades and modifications,jackups must undergo five-year class recertification special periodic surveys.
With 20 yards around the world which are near market and near customer,Keppel O&M says it will be able to service LeTourneau rigs for their owners wherever they are, more quickly and efficiently, speeding the rigs’ return to work.
Chow Yew Yuen, CEO of Keppel O&M, said: “This strategic acquisition will complement Keppel O&M’s existing capabilities and enable us to provide our customers with a full suite of end-to-end jackup rig solutions…
“With the current low oil price, rig owners are looking more at repairing and upgrading their current fleets. The LeTourneau acquisition has expanded our client base, and will improve our service offerings to rig operators in helping them maintain their assets more cost-effectively.”
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