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PV Drilling Overseas (PVDO) is acquiring a KFELS B Class jackup scheduled for delivery in Q1 2015 for approximately US $210 million.

PV Drilling orders new jackup for early 2015 delivery

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PV Drilling Overseas (PVDO) is acquiring a KFELS B Class jackup scheduled for delivery in Q1 2015 for approximately US $210 million. “We are looking to catch up on the huge demand for offshore rigs and actively seize the opportunities coming,” Pham Tien Dung, chairman of PVDO and CEO of PV Drilling, said. “To meet this aim, we are pleased to be able to acquire a premium jackup rig with such an early delivery schedule. This is an important addition to our current fleet of rigs to expand our fleet through acquisitions and charters to accelerate our drilling program for Vietnam and the overseas market.”

The high-specification rig will be the 19th KFELS B Class rig on order at Keppel FELS. It will be able to operate in water depths up to 400 ft, drill to a maximum depth of 30,000 ft and accommodate up to 150 men. Forty-five such rigs have been delivered since 2000, according to Keppel FELS.

The KFELS B Class rigs incorporate the rig builder’s fully automated high-capacity rack and pinion elevating system and self-positioning fixation system. It provides maximum uptime with reduced emissions and discharges. The design received an engineering achievement award from the Institution of Engineers Singapore in 2009.

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