25 Jan 2016

Keppel FELS delivers first rig of the year safely and on time

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered Halul, a KFELS B Class jackup rig, to Gulf Drilling International Ltd. (q.s.c) (GDI) of Qatar. It was completed on 21 January 2016, ten days ahead of schedule, on budget and with a perfect safety record. It is the first rig that Keppel FELS has delivered this year.

Halul is also the fifth KFELS B Class jackup rig delivered to GDI. With its continued successful partnership with Keppel FELS, GDI has renewed options for two more repeat KFELS B Class rigs for deliveries in 2018 and 2019.

Mr Wong Kok Seng, Managing Director of Keppel O&M (Offshore) and Keppel FELS, said, "We are proud to deliver another rig to GDI early and safely. This is our first delivery of the year and we are proud that even in a low oil price environment, the KFELS B Class continues to be the preferred rig in the market for its high quality, efficiency and safety.

"While there is widespread industry cautiousness, the strong relationships we have built with our long-standing customers, such as GDI, enables us to work together to deliver projects in a win-win fashion."

The KFELS B Class rigs have a strong track record for GDI. Sister rigs Dukhan and Al Zubarah are operating successfully for Qatar Petroleum while Al Khor is performing well for Shell.

Mr. Mubarak A. Al-Hajri, Chief Executive Officer and Managing Director of GDI, said, "We are pleased to receive the Halul ahead of schedule, enabling us to start work earlier for Qatar Petroleum. Reliability, safety, efficiency and quality are our top priorities in choosing a rig and a shipyard. Keppel FELS and the KFELS B Class design have demonstrated their strengths in these areas repeatedly. That is why we have chosen to renew our options for two more rigs with them. We are confident in the long term fundamentals of the industry and when the market recovers, we will be well-equipped to meet the demand."

Built to GDI's requirements, the jackup rig has been designed to operate in the higher ambient temperature of the Middle East. The KFELS B Class is equipped with larger spud cans for reduced bearing pressure and expands its operational coverage in more places, especially in sea beds where soft soil is predominant. The rig can drill wells through 30,000 feet with a cantilever that can skid out 70 feet from the edge of the hull to drill wells. It features offline stand building capabilities and 7,500 PSI mud pumps, with accommodation for 150 persons.

Besides newbuild rigs, Nakilat-Keppel O&M, Keppel's joint venture shipyard in Qatar, recently completed a self-propelled and self-elevating liftboat for GDI.

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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 FELS is a leading designer, builder and repairer of high-performance mobile offshore rigs. Its portfolio of proprietary designs and floating production solutions meets a broad spectrum of operating requirements, including deep waters and harsh environments.

As a group, Keppel O&M is also a leader in ship repair 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 more information on Keppel FELS, visit www.keppelfels.com

About Gulf Drilling International Ltd. q.s.c. (GDI)

GDI was established as the first onshore and offshore oil and gas drilling company in Qatar in 2004. It was created to strengthen the indigenous capacity of the upstream sector in Qatar. GDI is owned by Gulf International Services q.s.c. (GIS), the largest oilfield service company in Qatar. GDI is a 100% local company, and is the drilling contractor of choice.

GDI is a rapidly growing company that recently celebrated its 10th anniversary. It started with a single client using one land rig and one offshore rig. Today, GDI has 7 land rigs operating, with GDI-8 to join the fleet in the 1st quarter 2016. GDI has also got 9 offshore jack-up rigs operating, with the jackup rig Halul joining the fleet in the 1st quarter 2016. GDI also owns & operates 1 accommodation jack-up and 1 Lift boat; and one lift boat will be delivered to GDI in the 1st quarter 2016. GDI is focused on growth through both expansion and diversification of its core business with the intent of providing a wider menu of products to its clients.

GDI's client portfolio has expanded to include International Companies like, Occidental Petroleum, Maersk Oil, Shell Qatar Services, RasGas, Qatargas, Dolphin Energy and JX Nippon in addition to its biggest client - Qatar Petroleum.

GDI has over 1600 employees to run its business, with extensive support facilities, like accommodation, warehouses, workshops and open storage yards. It also has major equipment like cranes and water well units that are necessary to ensure that drilling operations are conducted smoothly and efficiently.

For more information on GDI, please visit www.gdi.com.qa

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