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Keppel secures $98m drillship contract

Keppel secures $98m drillship contract

Singapore: Keppel Shipyard has signed a S$150m ($98m) contract for the installation of equipment packages on a new drillship. The new hull is due to arrive at the yard from China in the third quarter of 2008 and Keppel is expected to complete its part of the work by the fourth quarter of 2009. The new drillship is designed to operate in deepwater depths of 12,000 feet and is fitted with DP 2 capabilities.

Nelson Yeo, Executive Director of Keppel Shipyard, said, "This new contract brings to fore the Group's project management expertise and capabilities in converting and integrating offshore exploration and production vessels. Owners can choose to outsource the construction of bare hull elsewhere. This can be beneficial to us because our valuable fabrication capacity can be made available to carry out other value-added work."

This value added work includes installation, integration and completion of the owner supplied power generation, thrusters and drilling equipment packages on a new hull.

Keppel Shipyard is a wholly-owned subsidiary of Keppel Corporation Limited, which boasts a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions.  [11/07/07]