31 Jul 2011

Keppel completes ultra deepwater rig for Saipem

Keppel FELS Limited (Keppel FELS) is on track to deliver Scarabeo 9, a 6th generation ultra-deepwater semisubmersible drilling rig, to Saipem S.p.A (Saipem) on time and with no lost time incidents.

A significant part of Keppel FELS' workscope on Scarabeo 9 involved the completion and commissioning of marine and drilling systems onboard.

The rig was named today by Lady Sponsor, Mrs Anna Tatka, spouse of Mr Pietro Franco Tali, CEO of Saipem.

Speaking at the ceremony, Mr Tali said, "With Keppel's proven track record, we were confident of receiving a rig of the highest quality delivered on time and in a safe manner. This sixth generation rig will be an important addition to our fleet as we expand our foothold to be one of the best balanced turnkey operators in the offshore and marine industry."

The Frigstad D90 semisubmersible rig is equipped with a Dynamic Positioning 3 system and will be capable of operating in water depths of up to 3,600 meters.

Mr Tong Chong Heong, CEO of Keppel Offshore & Marine, added, "In completing this complex rig, we leveraged our in-house engineering expertise, proven project management and execution capabilities to ensure quick turnaround times in providing value added solutions.

"We thank Saipem for their trust in us and are glad to be able to demonstrate our capabilities with this safe and on time delivery. This extends to all our projects for Saipem, including the completion of Castorone at Keppel Shipyard. We look forward to supporting Saipem as they grow their fleet of high specification products for different parts of the world."

Keppel's current projects for Saipem include the completion of a newbuild pipe laying vessel, Castorone, which is being jointly undertaken by Keppel Shipyard and Keppel Singmarine.

Saipem has also previously sent the Saipem 7000, a semisubmersible crane and pipelaying vessel, for drydocking at the Keppel Verolme shipyard in the Netherlands in 2007. More recently, Keppel Verolme completed the repair and modification of the semisubmersible pipelay vessel, Castoro Sei.

- End -

About Saipem
Saipem is a large, international and one of the best balanced turnkey contractors in the oil & gas industry.

Saipem has a strong bias towards oil and gas related activities in remote areas and deepwater and is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and the execution of large-scale offshore and onshore projects, and technological competencies such as gas monetization and heavy oil exploitation.

About Keppel FELS
Keppel FELS is a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), a wholly-owned company of Keppel Corporation Limited. Keppel O&M is a leader in offshore rig design, repair and construction, shiprepair and conversion and specialised shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards and offices in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner for solutions for the offshore and marine industry.

For further information, please contact

Roy Tan
Assistant Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6421
Email: roy.tan@kepcorp.com