Keppel Lands $1.1 Billion Rig Order from Transocean

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November 6, 2013

KFELS Super B Class jackup file photo. Image courtesy Keppel

Singapore’s Keppel FELS, a subsidiary of Keppel Offshore & Marine, announced late Wednesday it has secured a repeat order from Transocean to build 5 KFELS Super B Class jackup rigs for US$1.1 billion.

The rigs are scheduled to be delivered starting in 1Q 2016 with the final rig to be delivered in 3Q 2017. The deal also provides Transocean with options to build up to another five similar jackup rigs with Keppel FELS.

“We are glad that Transocean has chosen to expand their fleet of premium jackup rigs with the KFELS Super B Class design,” said Wong Kok Seng, Managing Director (Offshore) of Keppel O&M and Managing Director of Keppel FELS. “It is a testament to our strong track record and the value-add that we offer to our customers.”

“Having already delivered three jackup rigs to them earlier this year, on time, within budget and without incidents, we have assured them that we have the expertise and experience to deliver high quality rigs to their schedule and requirements,” Seng added.

Seng added that Keppel FELS has already delivered 17 rigs so far this year and is on track to complete an unprecedented 20 or even 21 rigs by year-end. Keppel O&M has so far secured 20 newbuild projects this year worth about S$6.4 billion, including this latest order, all of which are based on proprietary designs, according to Seng.

Tailored to suit Transocean’s requirements, the KFELS Super B Class rigs are designed to operate in 400 feet water depth and drill to 35,000 feet. With a two million pound drilling system and a maximum combined cantilever load of 3,700 kips, the KFELS Super B Class is equipped with tremendous horsepower during drilling operations. In addition, the rig will be installed with offline stand building features in its drilling system package which allows drilling and the preparation of drill pipes to take place at the same time. The rig is capable of drilling at a 75 feet outreach, allowing for coverage of a larger well pattern.

Keppel FELS and Transocean have shared a long-standing relationship spanning several projects. The three jackup rigs recently delivered are Transocean Siam Driller, Transocean Andaman and Transocean Ao Thai. In 2009, Keppel delivered Transocean’s Development Driller III, an ultra-deepwater drilling semisubmersible rig built to Keppel’s proprietary DSSTM 51 semisubmersible design.

Other projects include upgrades and conversions of the Sedco 700-series semisubmersibles to enable dynamic positioning, and the repair of various Transocean rigs. Since 1987, Transocean, through Global Santa Fe, and Keppel O&M have cooperated and completed seven new generation jackups that are now part of Transocean’s fleet of highly sophisticated rigs.

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