Keppel FELS Secures Order for a US$191 Million Jackup from PV Drilling

On May 28, 2007, Keppel FELS Limited (Keppel FELS), the wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has secured a contract from PetroVietnam Drilling Investment Corp (PVD Invest) to build a US$191 million jackup drilling rig.

 

Like PV Drilling I, the new rig will also be built to the KFELS B Class design. To be named PV Drilling II, it is slated for delivery in the fourth quarter of 2009.

 

Mr Do Dinh Luyen, Chairman of PV Drilling, said, “Our first new generation rig, PV Drilling I, has nearly completed her maiden drilling assignment, and has been lined up for her second operation. We are very pleased with her performance”

 

PV Drilling II will have longer legs compared to its sister rig. It will have the capability of operating in 375 ft of water depth and a drilling depth of 30,000 ft. It will also be able to work in fields with operating requirements for 120 ft air gap.

 

The Keppel Group has been involved in the Vietnamese offshore market for more than 20 years since Keppel FELS first completed the Hoang Sa 1,200 tonnes floating crane in 1984. It also built Vietnam’s first rig, the Tam Dao I in 1988. In the interim years, Keppel’s participation in the growth and development of Vietnam has widened to include the property and infrastructure businesses.