VESSELS, RIGS, UPGRADES

May 1, 2005

Sonsub contracts construction vessel

In early February, Sonsub Inc. signed a three-year charter agreement with Otto Candies LLC for a newbuild IMR construction vessel. The yet-to-be-named 280-ft, class II DP vessel includes a 100-ton tele-knuckle boom crane, a 20-ft by 25-ft moon pool, accommodations for 66, and can be outfitted with one or two 200-hp Innovator ROV systems.

According to Sonsub, the vessel will be the first and only US flagged vessel in the Gulf of Mexico capable of supporting subsea construction projects in addition to standard remote intervention and maintenance tasks.

Sonsub anticipates vessel availability in March 2006.

New jackup for Ensco

Ensco International Inc. has announced that one of its principal subsidiaries exercised an option to purchase the remaining non-owned 75% interest in theEnsco 106 jackup. The Ensco 106 is an enhanced KFELS MOD V (B) design built to Ensco’s specifications.

TheEnsco 106 was built by Keppel FELS Ltd., a subsidiary of which was Ensco’s 75% joint venture partner in the rig.

The newbuild Ensco 106 will work offshore Australia.

Click here to enlarge image

Ensco took delivery of the jackup in February. In mid March, theEnsco 106was scheduled to begin a one-year contract with Apache in Australia.

With the addition of theEnsco 106 and the expected year-end 2005 delivery of sister rig Ensco 107, now under construction, Ensco’s premium jackup fleet will increase to 44 rigs, nine of which will be newly constructed ultra-high-specification rigs.

Ulstein Verft carries out conversion

Ship owner Solstad awarded a contract to Ulstein Verft for the conversion of the cable-laying vessel,Normand Clipper.

When the conversion is complete, the vessel will be a construction and pipe-laying vessel with a large freight capacity. This conversion will expand Solstad’s ability to carry out crane assignments, diving assignments, and construction work.

The conversion of the Normand Clipper began at Ulstein Verft last December. Sister vessel Norman Cutter was delivered in 2004.

Click here to enlarge image

According to Harald Møller, Ulstein Verft’s sales manager, this conversion will require nearly the same number of working hours as the construction of a large platform supply vessel.

TheNormand Cutter, sister vessel of the Normand Clipper, was converted at Ulstein Verft in 2004.

Work on theNormand Clipper will be completed by the end of May.

Newbuild jackups keep Keppel busy

Keppel Corp. Ltd. subsidiary Keppel FELS Ltd. secured a $110-million contract to build a jackup for PetroVietnam Drilling & Well Services Co. (PV Drilling).

According to Tong Chong Heong, managing director and COO of Keppel O&M, “Keppel FELS’ relationship with PV Drilling’s parent company, PetroVietnam, goes back some 20 years when we delivered Vietnam’s first rig,Tam Dao, to Vietsovpetro in 1988.”

This award marks Vietnam’s second newbuild project.

The new jackup is a KFELS B class design customized to client’s requirements. It will be capable of operating in 90 m water depth, with a drilling depth of 20,000 ft. The jackup will have onboard accommodation for 110.

The jackup will be deployed offshore Vietnam upon completion in 1Q 2007.

Keppel FELS Ltd. is also building a $125-million jackup for Awilco AS, the offshore arm of The Anders Wilhelmsen Group of Norway.

WilCraft, the new KFELS B class rig, is scheduled for delivery at the end December 2006.

TheWilCraft jackup will be capable of drilling to 30,000 ft in 400-ft water depth.

The contract includes an option for an additional unit of similar design and capacity as the first, with price adjustment for steel material price and currency fluctuations.

Keppel FELS Ltd. landed a third jackup order in mid February, its third from Sinvest ASA within the year, the company says. Sinvest subsidiary, Deep Drilling Invest Pte. Ltd. awarded the contract exercising an option on an agreement signed in July 2004.

Under this same agreement, Sinvest also has an option to build a fourth jackup rig with Keppel FELS.

The third KFELS Super B class jackup is identical to the two earlier rigs, which will be delivered next year. The jackups have high-pressure/high-temperature capability and can drill to 35,000 ft in 350-ft water depth.

With the mid February order, Keppel FELS had nine KFELS B class jackups under construction, bringing the total number of KFELS B class rigs in operation and under construction to 14 since the introduction of this rig design in 2000.

According to Keppel FELS, the company has built over 60% of the world’s fleet on order in the last decade.