Safe and early delivery of Floatel’s second unit earns Keppel US$1.1 million bonus - 29 OCT 2010

Safe and early delivery of Floatel’s second unit earns Keppel US$1.1 million bonus. See press release.

Key Points

• Keppel FELS Limited (Keppel FELS) has surpassed its earlier track record for Floatel International (Floatel), with the delivery of the latter’s second semisubmersible accommodation rig, Floatel Reliance, 63 days early, within budget and without any lost-time incidents, meriting a bonus of US$1.1 million.
• Floatel Reliance is contracted to Petrobras for five years, with operations expected to commence early 2011. The rig will be wet-towed from Singapore to Rio de Janeiro on a voyage expected to last up to 65 days.