Offshore staff
SINGAPORE -- Keppel FELS Ltd. will build a third KFELS B class jackup drilling rig worth about $205 million for PetroVietnam Drilling Investment Corp. (PVD Invest).
The agreement is subject to conditions being met by March 14, 2008.
This latest unit and PVD Invest's second rig,PV Drilling II, which is already under construction at Keppel FELS, are scheduled for delivery in 4Q 2009.
Keppel FELS delivered the first jackup rig,PV Drilling I, to PVD Invest two months ahead of schedule.
"It is estimated that there will be some 900 exploration wells in Vietnam over the next 15 years. We want to position ourselves to capture this market for specialized oil and gas services with the support of a strong and reliable shipyard that can deliver projects punctually, on budget, and without incidents," says Do Van Khanh, chairman of PVD Invest.
To meet the tight exploration schedule, PV Drilling intends to make capital investments of around $1.7 billion from now until 2025 to build and operate an 11-strong fleet of offshore and onshore rigs.
The latest KFELS B class rig will be able to operate in water depths of 360 ft (110 m) with a drilling depth of 30,000 ft (9,144 m). The rig features engines that meet more stringent emission standards, and lower spud can bearing pressure for operation in areas with soft soil conditions. Its living quarters are designed to accommodate up to 110 men.
03/06/2008
