02 Apr 2012

Keppel AmFELS secures repeat jackup order from Mexico worth US$205 million

Keppel AmFELS LLC, a US wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has won a contract from Mexico's Perforadora Central SA de CV (Perforadora Central) to build a repeat jackup rig worth US$205 million.

Slated for delivery in 1Q 2014, this latest high specification unit will be based on the LeTourneau Super 116E design with leg lengths of 511 ft and the capability to drill wells up to 30,000 ft at a water depth of 375 ft.

Mr Tan Geok Seng, President of Keppel AmFELS, said, "Keppel AmFELS has had a great relationship with Perforadora Central that dates back to 2002. Once again, we are honoured to be building another jackup, our fourth, for Perforadora Central and are very grateful to them for their continued trust and confidence in us.

"We have endured the post-Macondo challenges well. Having recently secured the Ocean Onyx semisubmersible major upgrade and a series of repairs, this newbuild jackup adds to a healthy workload through 1Q 2014. We also continue to pursue projects from Pemex and we are optimistic about our chances."

In keeping with its tradition of safe, on-time and within-budget deliveries, Keppel AmFELS completed Tonala, an ultra premium KFELS B Class jackup rig for Perforadora Central in 2004, followed by Tuxpan, a LeTourneau S116E rig in 2010. The Papaloapan jackup, which was ordered by Perforadora Central in March 2011, is under construction and on track for delivery 1Q2013.

Perforadora Central expressed, "With each successive project, Keppel AmFELS has reaffirmed its expert project management and construction capabilities, as well as commitment to the highest standards of safety and quality.

"Our Tonala and Tuxpan jackups are turning in excellent performances for PEMEX in Mexico while construction of Papaloapan is ahead of schedule. We are just as confident that our latest newbuild by Keppel AmFELS will be another exceptional product to boost our track record and establish us as the foremost provider of drilling solutions in Mexico."

Perforadora Central is a Mexican company providing offshore and onshore drilling service mainly for PEMEX.
The above contract is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.

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About Keppel AmFELS
Keppel AmFELS is a subsidiary of Keppel O&M, a wholly-owned company of Keppel Corporation Limited. Located in Brownsville, Texas, Keppel AmFELS reinforces Keppel O&M's presence in the Gulf of Mexico and its strategy to be near its markets and customers.

Since its establishment in 1990, Keppel AmFELS has built up its facilities and equipment to become the most well equipped offshore shipyard in the Gulf of Mexico. The yard engages in the construction, refurbishment, conversion, life extension and repair of a complete range of mobile drilling rigs and platforms. Spread over 165 acres, its comprehensive facilities are world class and include a drydock capable of docking the largest semisubmersible drilling units, and a modern steel processing plant.

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 This press release is also available on Keppel's websites: www.kepcorp.com and www.keppelom.com.