Keppel FELS, a wholly owned subsidiary of Singapore-based Keppel Offshore & Marine, won a $227 million contract to build a high specification KFELS B Class jackup rig for Qatar-based Gulf Drilling International (GDI) Tuesday.
As part of the contract, GDI has options for two more KFELS B Class rigs to be delivered in 2017.
The new jackup, called Halul, is scheduled for delivery in the first quarter of 2016.
Halul will be chartered to state-owned Qatar Petroleum for five years.
Halul is the fifth KFELS B Class jackup rig GDI has ordered from Keppel.
The fourth rig, Dukhan, was delivered last month.
The new jackup rig will be customized to meet GDI’s requirements and is designed to operate in the Middle East’s higher ambient temperatures.
The KFELS B Class is equipped with larger spud cans to reduce bearing pressure and expand its operational coverage, especially in soft soil sea beds.
The rig can drill wells through 30,000 feet with a cantilever that can skid out 70 feet from the edge of the hull to drill wells.
It features offline stand building capabilities and 7,500 PSI mud pumps as well as accommodations for 150 persons.
Nakilat-Keppel O&M, Keppel’s joint venture shipyard with Qatar Gas Transport Company, is currently building a self-propelled and self-elevating liftboat customized for GDI.
The yard also has a six year repair and maintenance contract for GDI’s fleet of jackup rigs operating in the Middle East.
The jackup contract is not expected to impact Keppel’s net tangible assets and earnings per share during the 2014 financial year.