Keppel bags $650m triple jack-up order

The rigs are all expected to be delivered in the second half of 2016.

The order follows a single unit order from UMW for the same class of rig last week.

Fecon has its eyes set on a range of growing offshore drilling markets for its first three rigs, including Russia, South East Asia, Africa and the Middle East.

"The International Energy Agency estimates oil demand in the world to increase by 1.3m bpd in 2014 and Barclays has forecast global E&P spending to reach a new record of $723bn in 2014, an increase of 6.1% from $682bn in 2013," commented entrepreneur A P Dobrov, representing Fecon.

"There is a need for more high specification jackup rigs as the replacement cycle continues and we believe the robust KFELS B Class rig will be the most efficient rig in the greatest number of locations."

The rigs will be able to drill 30,000 ft deep in up to 400 ft of water. Fecon's has tailored the design by with 15,000 psi blow out prevention systems, 75 ft cantilever outreach and accommodation for up to 150 people.

Wong Kok Seng, managing director (offshore) of Keppel O&M and managing director of Keppel FELS commented, "We are pleased that new customer Fecon has chosen to build three KFELS B Class rigs as the basis for their fleet of jackups. Our KFELS B Class rigs are the industry benchmark for jackup rigs with more than 50 delivered and operating successfully in various parts of the world including Southeast Asia, the Middle East, Gulf of Mexico and the Black Sea."

The latest trio bring the total number of KFELS B jack-ups ordered since 2000 to 78, with 27 currently on order.

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