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KEPPEL DELIVERS WORLD’S LARGEST JACKUP RIG TO MAERSK DRILLING EARLY

Keppel FELS Limited (Keppel FELS) has delivered the jackup rig XLE-2 to Maersk Drilling, a wholly owned subsidiary of A.P. Moller - Maersk A/S, on budget and seven days ahead of schedule.

The rig, which will be named at a ceremony in Norway in October 2014, is an XL Enhanced (XLE) harsh environment jackup rig. It has been customised for operations in the North Sea and has been chartered by Det norske oljeselskap ASA (Det norske) for deployment in the Ivar Aasen project in Norway for five years.

Mr Chow Yew Yuen, CEO of Keppel Offshore & Marine (Keppel O&M), said, “This is the largest rig in the world and we are proud to have delivered it seven days ahead of schedule. It is a result of the close partnership we have developed with Maersk Drilling. We are grateful to have been chosen time and again to assist in the expansion of Maersk Drilling’s premium fleet. Just five months ago, we delivered Maersk Intrepid, the first such rig to Maersk Drilling and we look forward to completing the third rig on time or early, on budget, and safely as well.”

Collaborations between Keppel and Maersk Drilling span the design, engineering, repair and construction of a variety of rigs and ships. The companies have partnered on 12 newbuilding rig projects to-date, including the three XLE rigs.

Mr Claus V. Hemmingsen CEO of Maersk Drilling and member of the Executive Board in the Maersk Group, said, “The XLE-2 is part of our series of ultra-harsh environment rigs for the North Sea and enables us to further solidify our strong position in the Norwegian jackup market. These ultra-high specification rigs are preferred by our customers for the safety and efficiency gains they offer.

“This early delivery is the reason Keppel FELS, with their strong track record and technological capabilities, was chosen to build three of the XLE rigs. Our combined expertise and common safety, quality and performance standards has enabled us to deliver winning solutions to international oil companies and the industry.”

The XLE rig has a leg length of 206.8m (678ft) and is designed for year round operations in the North Sea, in water depths up to 150m (492ft).

Maersk Drilling has an ambition of becoming a significant contributor to the A.P. Moller - Maersk Group with a profit (NOPAT) of USD 1bn by 2018, while conducting incident free operations. In addition to the two drillships and two jack-up rigs on order, the modern fleet counts 20 drilling rigs including drillships, deepwater semi-submersibles and high-end jack-up rigs. Maersk Drilling employs an international staff of 4,000 people and generated a profit of USD 528m in 2013.

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.

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