15 Oct 2019

Keppel delivers fourth jackup rig to Borr Drilling

Keppel Offshore & Marine Ltd (Keppel O&M) has, through its wholly-owned subsidiary Keppel FELS Ltd (Keppel FELS), delivered the state-of-the-art jackup rig, Hermod, to Borr Drilling Limited (Borr Drilling) safely, on time and within budget.

Built to Keppel's proprietary KFELS B Class design, Hermod is the fourth of eleven jackup rigs that Keppel is building for Borr Drilling.

Mr Tan Leong Peng, Executive Director (Newbuilds) of Keppel O&M, said, "We are pleased to deliver a fourth high-specification jackup rig to Borr Drilling which is also the 70th KFELS B Class rig to enter market. Operators and oil companies have shown a preference for the high spec KFELS B Class rig as it is robust, reliable, versatile and efficient.

"Completed on time, within budget, and with a good safety record, the delivery of Hermod reflects Keppel O&M's steadfast commitment to provide value-added solutions to our customers. We have seven more jackup rigs on order for Borr Drilling, and we look forward to furthering our partnership with them."

Developed by Keppel O&M's technology arm, Offshore Technology Development, the KFELS B Class rigs have a market share of about a quarter of all jackup rigs delivered since 2000. The cost-effective rig, which incorporates environmentally friendly features that reduce emissions and discharges, is designed to operate in 400 feet water depth and drill to 30,000 feet. It is equipped with a full 15,000 psi BOP system, with accommodation for up to 150 personnel.

Mr Svend Anton Maier, CEO of Borr Drilling, added, "We are pleased to add another quality jackup rig to our fleet from Keppel. Our customers can be assured that these rigs have a proven track record and always deliver excellent performances wherever they are deployed. The global jackup drilling rig fleet utilisation has been on an upward trend, driven by increasing utilisation of modern rigs such as Keppel's B Class rigs. Demand also continues to grow, with various jackup rig tenders across the world. We look forward to the delivery of subsequent jackup rigs, which will allow us to further capitalise on these opportunities in the market."

Keppel O&M has previously delivered the Saga, Skald, and Thor jackup rigs to Borr Drilling.

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About Keppel Offshore & Marine
Keppel O&M is a global leader in offshore rig design, construction and repair, specialised shipbuilding, as well as ship repair and conversion. Its portfolio of proprietary designs and floating production solutions meets a broad spectrum of operating requirements, including deep waters and harsh environments. Backed by robust operational excellence, Keppel O&M innovates and leverages new technologies to deliver projects on time, on budget, safely, reliably, and to the highest quality. 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. For more information, visit www.keppelom.com

About Borr Drilling
Borr Drilling is an international drilling contractor that owns and operates jack-up rigs of modern and high-specification designs providing drilling services to the oil and gas exploration and production industry worldwide in water depths up to approximately 400 feet.

With a low-cost base, a strong and experienced organisational culture, combined with a unique capital structure, Borr Drilling is built to make a difference. For more information, visit www.borrdrilling.com