Dynamic Offshore orders Keppel jack-up

Slated for delivery in 1Q2013, the rig will be able to operate in water depths of 350ft with a drilling depth of 30,000ft and will accommodate 120 personnel. The contract includes an option for an additional rig, to be exercised before the third quarter of2011.

To date, Keppel has delivered 33 KFELS B Class design units worldwide.

Naresh Kumar, chairman of Dynamic Offshore Drilling, said, “While this is Dynamic Offshore’s first collaboration with Keppel FELS, we are no strangers to its excellent project execution and dedication to safe, on-time and within-budget deliveries. My team and I have previously worked very closely with the Keppel FELS team on two KFELS B Class jack-up rigs which have been deployed under long term contracts with strong day rates with a Fortune 500 National Oil Company. After the Gulf of Mexico oil spill, oil companies around the world prefer newbuild premium rigs with enhanced safety features and equipment reliability. With over 60% of the current Jack up fleet over 25 years old, it is an impetus for us as experienced drilling contractors to invest in premium high quality jack-ups with the world’s leading shipyard. We are looking forward to build a number of rigs with the strong partnership of Keppel FELS in the years to come”.

Wong Kok Seng, managing director of Keppel FELS, added, “We are glad to be working with familiar partners. Mr. Kumar is highly respected in the industry and Dynamic Offshore Drilling is backed by a recognised team of professionals. Customers come to us because of our award winning products, excellent execution of projects and our commitment and ability to deliver rigs of the highest standards. In building their first rig to our KFELS B Class design, we are pleased to be able to support them in meeting the market requirements of newer rigs with superior technical and safety capabilities.”