Keppel Corp unit secures rig deal worth $300 million from Japanese client

SINGAPORE - Keppel Fels, a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured a contract from BOT Lease (BOTL), an affiliate of The Bank of Tokyo-Mitsubishi UFJ, for a rig worth about US$240 million (S$300 million).

Scheduled for completion at end 2016, the KFels Super B Class jackup rig - which is provisionally named Hakuryu 15 - will be operated by Japan Drilling Co (JDC) based on the leased agreement with BOTL.

Mr Wong Kok Seng, managing director (offshore) of Keppel O&M, said: "We are pleased for this opportunity to support BOTL, and to join hands with our valued customer JDC once again.

"Hakuryu 15 is the second KFELS Super B Class jackup rig that will join JDC's fleet, and their support is a reiteration of their trust and confidence in our proprietary solutions and companies."

The KFels Super B Class design has a drilling depth of 35,000 feet.

The rig's leg structure is uniquely designed to provide enhanced robustness for operations at 400 ft water depth.

The rig, adapted to JDC's operating philosophy, is engineered to operate in high ambient temperatures and can accommodate 150 personnel onboard.

It features an offline stand building capability to handle drill pipes efficiently, a high capacity hook load of two million pounds, boosting overall rig performance and productivity.

Keppel O&M is a wholly-owned subsidiary of mainboard-listed Keppel Corp.