30 Aug 2010

Keppel AmFELS maintains perfect track record with second Rowan rig

Keppel AmFELS L.L.C., the U.S. wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), is on track to deliver the second of four EXL rigs to Rowan Drilling Companies, Inc. (Rowan) on time, within budget and with zero lost-time incidents.

The rig, christened Rowan EXL-II last Friday, is scheduled for delivery on 31 August and will depart the Keppel AmFELS yard within the next month.  It is expected to be deployed to Trinidad for three years under contract with BP Trinidad and Tobago.

Mr David Russell, President of Rowan Drilling Companies, said, “We continue to see a strong demand for higher-specification jack-ups worldwide. The Rowan EXL rigs, built to distinction with Keppel AmFELS’s experienced project management and production capabilities, solidly augment our premium fleet.

“Once again, we are pleased with Keppel AmFELS’s repeat delivery of a rig with the highest standards in quality and safety. We have every confidence that the Rowan EXL-II will do very well when it is in full operation.”

Construction for the Rowan EXL-II began in April 2008. Built as an enhancement of the LeTourneau Super 116E design with leg lengths of 511ft. and a capable hook load of 2,000,000 lbs., the ABS-classed rigs employ the latest state-of-the-art technology to drill high-pressure, high-temperature and extended-reach wells in jack-up markets throughout the world. They are capable of operating in 350 ft. of water or more and drilling to a depth of up to 35,000 ft.

Keppel AmFELS is currently constructing two other similar new build jack-up rigs for Rowan. The construction of these rigs is progressing well and is within schedule and budget.

Located in Brownsville, Texas, Keppel AmFELS reinforces Keppel O&M’s presence in the Gulf of Mexico.

Mr. G.S. Tan, President of Keppel AmFELS, said, “Keppel O&M’s Near Market, Near Customer strategy gives us the leverage to better understand and support our customers in the local markets where they operate.

“The Rowan EXL-II is another well-executed project, proving our track record in this region and strengthening the partnerships with our repeat customers such as Rowan.”

Since its establishment in 1990, Keppel AmFELS has built up its facilities and equipment to become the most well equipped offshore shipyard in the Gulf of Mexico. The yard engages in the construction, refurbishment, conversion, life extension and repair of a complete range of mobile drilling rigs and platforms. Its comprehensive facilities are first class, with a drydock capable of docking the largest semisubmersible drilling units and a modern steel processing plant.

Backed by the resources and competencies of the Keppel O&M Group in design and engineering, Keppel AmFELS is strategically positioned to serve the region’s growing needs in the wind energy industry, both onshore and offshore, as well as for other kinds of marine support vessels such as spill response vessels.

Rowan Companies, Inc. is a major provider of international and domestic contract drilling services. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries. The Company's stock is traded on the New York Stock Exchange. For more information on Rowan, please visit www.rowancompanies.com.

For further information, please contact:

(Ms) Diana Chan

Senior Executive

Keppel Group Corporate Communications

Tel: (65) 6413 6430

Email: diana.chan@kepcorp.com