Keppel AmFELS earns bonus upon delivery of fourth Scorpion rig

10-September-2008

Keppel AmFELS Inc., the US wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has delivered Scorpion Offshore's (Scorpion) fourth jackup drilling rig.

The yard received a bonus of US$1.35 million upon the successful delivery of the rig to Scorpion.

Named Offshore Vigilant, the rig is one of five LeTourneau Super 116 jackups that were commissioned by Scorpion in 2005. Two units, Offshore Courageous and Offshore Defender, were delivered in 2007 and the third, Offshore Resolute, in May this year. All were completed on-time. The fifth unit is expected to be completed in 2009.

All five rigs are identical. Each incorporates a 70 ft cantilever, the maximum reach currently available for all but a few harsh environment units. Each is capable of working in 350 ft of water as outfitted or in water of depths up to 400 ft through the installation of additional leg sections. The drilling depth is approximately 30,000 feet.

Offshore Vigilant has been chartered by Gazprom for its maiden operations offshore Venezuela beginning in October 2008.

Presently, Keppel AmFELS is also busy with the construction of rigs for Diamond Offshore, Atwood Oceanics, Perforadora Central and Rowan Companies.

Acquired in 1990, Keppel AmFELS is a wholly-owned subsidiary of Keppel Corporation through Keppel O&M, and 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, including a drydock capable of docking the largest semisubmersible drilling units, and modern steel processing plant.

Scorpion Offshore Ltd. is a Bermuda based corporation founded in 2005 to own and operate state-of-the-art offshore drilling rigs.

Keppel Corporation Limited, press release