Keppel FELS secures order for jackup rig worth about $267 million

KEPPEL FELS, a subsidiary of Keppel Offshore & Marine (O&M), announced on July 3 that PV Drilling Overseas (PVDO) is acquiring a jackup rig for about US$210 million (S$267 million).

The high specification rig, which is called a KFELS B Class rig, is scheduled to be delivered in the first quarter of 2015.

It will be the 19th of such rigs on order at Keppel, and 45 KFELS B Class rigs have been delivered since 2000.

The KFELS B Class jackup design was developed by Keppel's technology arm, Offshore Technology Development, and can operate in about 120m of water and drill to depths of 9,000m.

Keppel O&M managing director Wong Kok Seng said: "Having just delivered our 45th KFELS B Class rig, and with another 19 on order, this proven design has been the rig of choice for the offshore drilling industry."