Keppel to deliver another three jackup rigs to Mexico in first-ever triple naming

Source:Keppel FELS Limited

Keppel is on track to deliver three KFELS B Class jackup rigs to Mexican company Grupo R safely, on time, and on budget.

Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), is on track to deliver three KFELS B Class jackup rigs to Mexican company, Grupo R, safely, on time and on budget.

A world's first triple rig naming ceremony was held today at Keppel FELS' yard with Mr Chan Chun Sing, Singapore's Minister in Prime Minister's Office and Secretary-General of the National Trades Union Congress as the Guest of Honour.

Built to Keppel's proprietary KFELS B Class design, the three identical rigs were named CANTARELL I, CANTARELL II and CANTARELL III, after the Cantarell oil field in offshore Mexico. They are the first three of five rigs that Keppel FELS is building for Grupo R.

Speaking at the ceremony, Minister Chan said, "Keppel's achievement on the naming of these three rigs underscores Singapore's capabilities as a world leader in rig building. To continually sharpen Singapore's competitive edge, the Government will continue to collaborate actively with the industry in R&D, productivity improvements and skills training.

"I am also happy to note that Keppel's success is also a result of the strong labour-management relations that has been nurtured over the past 32 years with the union. The trust shared between the company and the union has resulted in high employee morale, conducive working environment, and increased productivity and quality."

Mr Chow Yew Yuen, CEO of Keppel O&M, added, "We are pleased to name the first three of five rigs for Grupo R with delivery on track in a timely and safe manner. We have reaped synergies from working on five rigs at one time to maximise resources and improve efficiencies in the construction process. This is extremely helpful especially when we will be delivering 15 rigs this year which is the second highest number of deliveries in a year.

"When delivered, the three rigs named today will make it 11 KFELS B Class rigs working in Mexico. It is the dominant rig design in the region, with those already in operation turning out robust, efficient and economical, performances for Mexico. Besides two more rigs for Grupo R, we currently also have another two under construction for Mexican customers."

The KFELS B Class jackup is designed to operate in water depths of up to 400 feet and drill to depths of 30,000 feet. Developed by Keppel's Offshore Technology Development (OTD), the KFELS B Class jackup is equipped with an advanced and fully-automated high capacity rack and pinion jacking system, and Self-Positioning Fixation System. It has accommodation with full amenities for 150 persons.

Mr Ramiro Garza, CEO of Grupo R, said, "In spite of the current low oil price environment, Mexico is focused on finding new resources to increase its oil production in the face of a long-term decline. Our new KFELS B Class jackup rigs are highly efficient with a proven track record. Combined with our expertise and experience, these five rigs - three now and two later - will strengthen our position as the drilling contractor leading in Mexico.

"We have built these rigs with Keppel FELS to ensure cost-efficiencies in getting customised and high quality products that are able to exceed the expectations of our customers. We look forward to continuing this win-win partnership as we grow our fleet of rigs."

Keppel has delivered projects to Mexico since 2004 when it was awarded a contract to build two accommodation modules. Besides building new jackup rigs for Mexico, Keppel has also repaired and serviced a total of 18 rigs that have been deployed in Mexico.

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