• Home
  • News
  • Keppel to build mid-water harsh environment rig worth US$425million
  • 2018 March 12 13:30

    Keppel to build mid-water harsh environment rig worth US$425million

    Further to the announcement on 28 February 2018 on the Letter of Intent signed by Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary, Keppel FELS Limited (Keppel FELS), with Awilco Drilling PLC (Awilco), Keppel FELS has secured a contract from Awilco to construct a mid-water semisubmersible (semi) drilling rig for harsh environment use, worth about US$425 million.

    As part of the transaction, Awilco has independent options to order up to another three similar rigs to be exercised within 12, 24 and 36 months respectively. The prices of the three additional rigs are subject to cost adjustments and will only be finalised and announced separately if and when the options are exercised.

    Scheduled for completion in 1Q 2021, the rig will be built to Moss Maritime's CS60 ECO MW design. Compared to the ultra-deepwater CS60, this is a compact version specially designed, configured and outfitted for mid-water operations of up to depths of 1,500m.

    Boasting a low environmental footprint, the drilling rig is designed for operations in harsh environments, including the Norwegian Continental Shelf, UK Continental shelf and Barents Sea. Equipped with a hydraulic hoisting system capable of two million pounds of lifting capacity, it also features an optimised 12 point thruster assisted mooring system for vessel station keeping, complete with hybrid power supply and energy saving features. The rig is also equipped with state-of-the-art digitalisation, including condition monitoring systems, which will enhance the drilling efficiency and reliability of the rig, while reducing likelihood of downtime.

    According to a report in Rigzone, the UK North Sea and Norwegian Continental Shelf are two areas where demand for harsh environment, mid-water semis have picked up considerably since the start of 2017.

    The above contract is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.
     
    About Awilco Drilling
    Awilco Drilling Limited was incorporated in December 2009 in connection with the acquisition of the two semisubmersible drilling rigs, WilPhoenix (previously Arctic II) and WilHunter (previously Arctic IV). The company is registered in England & Wales (07114196) with its operation based in Aberdeen, Scotland. The Company re-registered to a public company on 14 April 2011, under the name Awilco Drilling PLC.

    About Keppel FELS / Keppel Offshore & Marine
    Keppel FELS is a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), a wholly-owned company of Keppel Corporation Limited. Keppel FELS is a leading designer, builder and repairer of high-performance mobile offshore rigs. Its portfolio of proprietary designs and floating production solutions meets a broad spectrum of operating requirements, including deep waters and harsh environments.
    Keppel O&M is a global leader in offshore rig design, construction and repair, ship repair and conversion, and specialised shipbuilding. It integrates and harnesses the experience and expertise of yards and offices in 15 countries to be near customers and markets. Driven by innovation and a capable people with the Can Do! spirit, Keppel O&M strives to become a builder of distinction in every aspect of its business.




2023 January 30

18:37 Shell announces Executive Committee and Directorate changes
18:07 Biden-Harris administration announces more than $380 mln in grants to modernize ferry services
17:53 Port of Aberdeen welcomes Minister for Industry and Investment Security Nusrat Ghani
17:42 Boskalis acquires EUR 120 million contract for development and climate adaptive measures for Gulhifalhu in the Maldives
17:31 Euronav filed an application request for arbitration on the merits in relation to Frontline’s termination of the combination agreement
17:21 First Australian coal cargoes since end of ban to enter China in Feb - Reuters
17:08 Cemre Shipyard chooses NES for twin hull SOVs
16:47 ArcelorMittal Belgium and North Sea Port are to build the North-C Circular industrial estate on ArcelorMittal's Ghent site
16:29 Keppel O&M and Sembmarine merger transaction get SGX approval
15:39 APM Terminals Mumbai facilitates India’s first export of AVGAS 100 LL aviation fuel
15:17 King Abdullah Port registers 3.25% in container, 143% in break bulk and 108% in agri bulk in 2022
15:04 The Baltic Hub posts container volume of 2 072 727 million TEUs in 2022
14:43 Toyota Tsusho, IIJ, NEC, and NTT Com sign contract with Uzbekteleco
14:30 CMA CGM Group launches a call for projects worth €200 million to step up the pace of decarbonization of the French shipping industry
14:21 Port of Oakland’s solar energy use grows
14:02 New resident of Kamchatka PDA to invest RUB 6 billion in Bechevinskaya facility for LNG handling
13:19 USCG seizes 480 pounds of illegal fish off Texas coast
13:10 Port of Melbourne welcomes investment in Somerton Intermodal Terminal
12:36 RSGT adds three STS cranes to its fleet of handling equipment
12:19 Admiralteiskie Verfi shipyard completed dock works on Mekhanik Maslak factory freezer trawler
11:53 Mandatory Maritime Single Window: One year to go
11:27 Keppel Offshore & Marine's joint resolution with Brazilian authorities
10:48 Rosmorport commissioned facilities of navigation safety system in Astrakhan, Nakhodka and Vostochny
10:21 COSCO SHIPPING offers diverse shipping solutions for domestic carmakers
09:50 CPC tests permanent station of atmospheric air quality control system
09:24 RF Government expands civil fleet construction programme to 10 units

2023 January 29

15:08 Anglo American loads first LNG dual-fuelled vessel in chartered fleet, cutting emissions by up to 35%
13:27 Humber Ports will continue playing part in the green supply chain revolution in UK ports - ABP
12:51 Chevron announces Q4 earnings of $6.4 billion and adjusted earnings of $7.9 billion
11:49 Maersk will unify its brand

2023 January 28

15:19 Port of Rotterdam reports a slight decrease in accidents in 2022
13:07 FMC to seek additional comments on unreasonable refusal to deal rulemaking
11:22 Metal cut on world’s first unmanned Fast Rescue Craft in new partnership with Zelim

2023 January 27

18:18 IAA PortNews’ summary of past week news
18:07 MPC Container Ships plans to start using a synthetic MOO fuel in its fleet - Ship & Bunker
17:52 Registration for Shipping Team meeting is closed
17:45 Container throughput of Russian seaports in 2022 fell by 23%
17:30 Alma’s marine fuel cell system awarded Approval in Principle by DNV
17:14 Three Korean shipbuilders focus on boosting profitability - BusinessKorea
16:48 Vostochny Port handled 12 thousand TEU in 2022
16:37 MOL is the first Japanese company to join First Movers Coalition's Shipping Sector
16:25 Port of Long Beach plans wind turbine assembly terminal
15:55 ClassNK issues AiP for large ammonia fueled BC jointly developed by MOL and MITSUI
15:13 Freeport LNG gets FERC approval to cool down piping as restart work stretches into February - S&P Global
14:59 Trade turnover between Russia and India surged 2.4 times in 2022
14:03 Fluxys acquires 24% stake in the largest transmission system operator in Germany
13:42 Lax oversight allows U.S. refineries to pollute waterways
13:24 TORM buys seven LR1 tankers
13:00 Quotas for exports of mineral fertilizers from Russia increased by almost 500 thousand tonnes
12:34 South Africa’s Richards Bay Coal Terminal increased shipments to Europe in 2022 - Bloomberg
12:13 Norwegian Cruise Line celebrates first cruise season in South Africa and Namibia
11:53 Stolthaven Terminals and XL Batteries announce partnership to develop an industrial-scale flow battery
11:34 Global Ports increased rouble-denominated bond programme of VSC from RUB 30 bln to RUB 100 bln
11:10 RF Government to approve passports of investment projects on construction of civil ships by February 15
10:51 Port of Rotterdam increases volumes of bunkering to 10.8 million tonnes in 2022
10:13 NYK to build its fifth LPG dual-fuel very large LPG / ammonia carrier
09:26 USA expands its sanction list with more Russian nationals and entities

2023 January 26

18:07 Helsinki Shipyard floats out Swan Hellenic's ship
17:44 Maersk Supply Service awarded its largest solutions contract to-date in Búzios field, Brazil
17:24 Throughput of Arkhangelsk port increased by almost 25% to 6.6 million tonnes in 2022