CATEGORIZED | News, The Efficient Rig

Asia Offshore Drilling orders new KFELS B Class jackup

Posted on 06 July 2011

Asia Offshore Drilling (AOD) has exercised the first of two options to build a KFELS B Class jackup rig worth US$184 million with Keppel FELS. This rig will be AOD’s third with Keppel FELS and is scheduled for delivery in Q3 2013. AOD, established by Singapore listed Mermaid Maritime, placed orders for two KFELS B Class jackup rigs in December 2010. AOD recently announced the completion of a private placement that will result in Mermaid and Seadrill each having a 33.75% equal shareholding ownership in AOD.

The effectiveness of this option is subject to AOD or a subsidiary entering into a construction contract with Keppel FELS and fulfilling certain conditions precedent.

M.L. Chandchutha Chandratat, chairman of the Board of AOD, said, “We continue to see bifurcation in the jackup market. Oil companies are showing a preference for high-specification jackups for which the KFELS B Class stands out as a choice design. We are therefore strengthening our position as an Asian drilling company with our third KFELS B Class rig order.

“We are also pleased that our strategic decisions were recognized by Seadrill, which is one of the most successful drilling companies in the world. This partnership between Mermaid, Seadrill and Keppel FELS provides AOD with a strong platform to develop its business to serve the Asia Pacific and Middle East markets.”

When completed, AOD’s rigs will be able to operate in water depths of 350 ft, drilling depth of 30,000 ft and accommodate 150 men.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 28 August 2014

    DNV GL launches interactive Arctic risk map

    DNV GL has developed an interactive Arctic Risk Map to present the risks associated with offshore and maritime activities in the Arctic. The map aims to provide stakeholders...

  • 27 August 2014

    Video: Aviation safety program encourages employees to voluntarily report safety issues

    Since 2009, there have been no passenger fatalities on domestic airlines in the US, Ronny “Ronoo” Monsour, VP of Sales for Check-6, said. Mr Monsour also a pilot for...

  • 27 August 2014

    Vestigo Petroleum plans ‘manufacturing approach’ to marginal fields offshore Malaysia

    Vestigo Petroleum, a wholly owned subsidiary of Malaysian NOC Petronas Carigali, is about to put a tender out for its first rig on a first drilling program offshore...

  • 27 August 2014

    Case study from mining: Image-driven safety campaign removes communication barriers

    In the world of process safety, people, equipment, the environment and reputation are some of industry’s greatest assets, Marlane Kayfes, Senior Technical Writer...

  • 26 August 2014

    Video: Evolving asset maintenance requires quality data, input

    Asset reliability is a critical component to meeting business goals and expectations when it comes to safety, the environment and production. As the industry faces...

  • Read more news