27 Feb 2015

Keppel FELS delivers its 100th jackup rig

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO), a subsidiary of PetroVietnam Drilling & Well Services Corp (PV Drilling) on time, on budget and with a perfect safety record.   

It is the 100th jackup rig Keppel FELS has built since 1970, of which more than half are based on the KFELS B Class design. Developed by Keppel's technology arm, Offshore Technology Development, this design has a market share of about a quarter of all jackup rigs delivered since 2000.

The naming ceremony of PV Drilling VI was held at Keppel FELS today and witnessed by Guest of honour Mr Nguyen Xuan Son, Chairman of PetroVietnam.

Mr Chow Yew Yuen, CEO of Keppel O&M said, "Keppel FELS is pleased to have reached this milestone of 100 jackup rigs built which reaffirms our position as the largest manufacturer of jackup rigs in the world. It is testament to our rich experience and expertise in delivering offshore rigs to our customers. Over the years, we have also developed innovative rig designs for the market.

“For instance, PV Drilling VI has been built to our award-winning KFELS B Class design and is the ideal choice to meet the requirements for a wide variety of offshore environments including Vietnam. It is the fourth such rig to be delivered to Vietnam. Our long-standing partnership with PV Drilling has enabled us to continually deliver projects to them more efficiently and safely each time.”

The KFELS B Class rig is be able to operate in water depths of up to 400 ft with a drilling depth of 30,000 ft. PV Drilling VI has been further enhanced with features like engines that meet more stringent emission standards, increased capacity for mud pit tanks, a secondary tensioning system, accommodation for 150 persons as well as a lower spud can bearing pressure for operation in areas with soft soil conditions.

Mr Pham Tien Dung, CEO of PV Drilling and Chairman of PVDO, said, “The high-specification and cost-efficient PV Drilling VI is PVDO’s first jack-up rig, and will play an important role in accelerating PVDO’s drilling programme for South East Asia and beyond. We recognise the strength of the KFELS B Class rigs as the three rigs that are operating for PV Drilling have been performing very well.

“Keppel FELS has a solid track record in delivering technologically advanced rigs with great quality and efficiency. Therefore, we are glad to have built this partnership and look forward to working together on many other projects to come.”

Keppel O&M has been actively involved in Vietnam since the 1980s and has built up a credible track record over the years. The group’s expertise and experience have been demonstrated in rig building, ship conversions and repairs. It delivered Vietnam’s first jack up rig, the Tam Dao I in 1988 and is responsible for PV Drilling’s modern fleet of three KFELS B Class jackup rigs – PV Drilling I, PV Drilling II and PV Drilling III - as well as Vietnam’s first semisubmersible drilling tender (SSDT).

Besides newbuild rigs, Keppel O&M has also completed a number of Floating Production Storage and Offloading (FPSO) vessel conversions for PetroVietnam including one of Vietnam's largest FPSOs, delivered to PV Keez for the Chim Sao field and more recently, the FPSO Lam Son.

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About PV Drilling Overseas
PV Drilling Overseas is a strategic joint venture between Singaporean and Vietnamese partners. Recently established in 2013, PV Drilling Overseas targets at becoming a reliable drilling contractor, owning a fleet of modern offshore drilling rigs and providing advanced oil and gas drilling services for potential markets in Southeast Asia and beyond.

About PV Drilling
The experiences of PV Drilling can be traced back to the establishment of PTSC Offshore Services, as a division of Petroleum Technical Services Company, in 1994. After a decade of development, PV Drilling has quickly expanded its portfolio of services to include drilling, skilful manpower provision, well-technical services, oil & gas equipment inspection & repairs, and other activities related to a drilling campaign. These services remain at the heart of the company and play an important role in the development of PV Drilling as a major service provider to the oil and gas industry in Vietnam.

About Keppel FELS
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.

As a group, Keppel O&M is also a leader in ship repair and conversion, and specialised shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards and offices in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner for solutions for the offshore and marine industry. For more information on Keppel FELS, visit www.keppelfels.com

For further information, please contact:
Roy Tan
Manager
Group Corporate Communications
Keppel Corporation Ltd
Tel: (65) 64136 421
Email: roy.tan@kepcorp.com