Keppel FELS to build semi for Ensco

Keppel FELS Ltd. has secured an order for an ultra deepwater semisubmersible drilling rig from a wholly-owned subsidiary of Ensco International Inc.

Offshore staff

SINGAPORE -- Keppel FELS Ltd. has secured an order for an ultra deepwater semisubmersible drilling rig from a wholly-owned subsidiary of Ensco International Inc.

The semi,Ensco 8503, will be the fourth semi constructed at Keppel FELS for ENSCO. Delivery is scheduled for 3Q 2010.

Keppel FELS delivered its ninth jackup rig,Ensco 108, to Ensco in March this year. The yard is constructing three semis for Ensco: Ensco 8500, to be delivered in 2Q 2008; Ensco 8501, to be delivered in 1Q 2009; and Ensco 8502, to be delivered at the end of 2009. The Ensco 8500 and Ensco 8501 are both committed under long-term drilling contracts that begin upon delivery.

In the last 10 years, Ensco has awarded the Keppel O&M Group approximately $4.5 billion worth of construction and repair projects, Keppel says.

"Today marks another milestone in our commitment to our strategic objective of expanding our deepwater fleet through our Ensco 8500 series proprietary design semisubmersible rigs," says Daniel W. Rabun, chairman, president, and CEO of Ensco.

"We continue to see strong demand for deepwater equipment and believe that our 8500 series rigs are a cost-effective approach for addressing the growing deepwater market."

TheEnsco 8503 ultra deepwater semi rig, like her sister rigs, is based on Ensco's proprietary design, the Ensco 8500 series, which is an enhanced version of the Ensco 7500 design.

The 8500 series rigs will be able to drill in 8,500 ft water depth (2,591 m) and can be upgraded to 10,000 ft (3,048 m) water depth if required. Enhancements include a 2 million pound quad derrick, offline pipe handling capability, increased drilling capacity, greater variable deck load, and improved automatic station keeping ability. The rigs will be suited for deepwater development drilling, Ensco says.

6/7/2007

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