Keppel undertakes Diamond semi upgrade

Keppel FELS Ltd has secured a contract from Diamond Offshore Drilling, for the major upgrading of semi-submersible rig for $102 million. ?Ocean Monarch? will arrive at Keppel FELS in mid 2006 for the upgrading and expected to be operationally ready in fourth quarter 2008.

When completed, ?Ocean Monarch? will be able to operate in up to 10,000 feet of water in a moored configuration and will be among the most modern and effective of Diamond?s fleet of upgraded Victory-class semis. This semi is the fourth in a series of fifth generation Victory-class upgrades that Keppel FELS has undertaken for Diamond Offshore. The first three semis are ?Ocean Baroness?, ?Ocean Rover? and ?Ocean Endeavor?. The latter is currently undergoing upgrading works at Keppel FELS and is scheduled for completion in fourth quarter 2006.