Keppel to build two semis for Maersk

Keppel FELS Ltd, the wholly owned subsidiary of Keppel Corporation Limited through Keppel Offshore & Marine Ltd (Keppel O&M) has secured a contract to build two semi-submersible drilling platforms at S$780 million for AP Moller-Maersk (Maersk). The two development deepwater semis are expected to be delivered in 2008 and 2009 respectively.

Under the agreement, Maersk will supply the drilling and other equipment. The contract also carries an option for an additional unit of a similar design and capacity, to be exercised within 12 months and subject to price adjustment for steel material and equipment price, labour and currency fluctuations.

Maersk has chosen the proprietary design, the DSS 21, developed by Keppel?s Deepwater Technology Group (DTG) and Marine Structure Consultants (MSC).

The rigs will contain a dynamically positioning system, with the ability to attach to a prelaid mooring system. Capable of operating at water depths to 3,000 metres, the new semi-submersibles are designed for moderate environmental conditions such as West Africa, Brazil, Gulf of Mexico and Southeast Asia. Each rig can accommodate up to 180 people.

The award of the two rigs is the second major contract from Maersk this year following the order secured to build four jack up rigs in March.