Keppel secures B Class jackup rig order from Dynamic Offshore Group

Keppel secures B Class jackup rig order from Dynamic Offshore Group:

• Press Release

Key Points

• Keppel FELS Limited (Keppel FELS) has secured a contract with Vision Drilling Pte Ltd (Vision Drilling), a wholly-owned subsidiary of Dynamic Offshore Drilling Limited (Dynamic Offshore Drilling), to build its first KFELS B Class jackup drilling rig for US$180 million.
• Slated for delivery in 1Q2013, the rig will be able to operate in water depths of 350 feet with a drilling depth of 30,000 feet and accommodate 120 men.
• Dynamic Offshore Drilling has the option to build an additional rig to be exercised before 3Q2011.

About Dynamic Offshore Drilling

Dynamic Offshore Drilling is part of the Jaguar Group, an ISO-9001:2008 certified EPC Company with its operations in India, Africa, S.E. Asia, Middle East and South America. already has its presence in offshore drilling business through its wholly owned subsidiary Deepwater Drilling & Services Pvt. Ltd, which currently is operating a Jack up drilling rig contract worth USD 71 M for National Oil Company ONGC. Dynamic Offshore Drilling is a newly incorporated drilling company domiciled in Cyprus and aiming to be a significant player in the premium Jackup segment focusing on the Asian and African Markets. The company is backed by strong industrial house and senior management team having more than 200 man years of combined drilling experience, project management and engineering excellence backed by a strong commitment to QHS&E systems and procedures with a dynamic continuous auditing and improvement process. Dynamic Offshore is planning to be listed in the stock exchange in a short span of time.

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• Keppel to build 4 repeat jackup rigs worth US$772 million for Standard Drilling

Keppel to build 4 repeat jackup rigs worth US$772 million for Standard Drilling

Keppel to build 4 repeat jackup rigs worth US$772 million for Standard Drilling:

• Press Release

Key Points

• Keppel FELS Limited’s (Keppel FELS) returning customer, Oslo-listed S.D. Standard Drilling Plc (Standard Drilling), has ordered four repeat KFELS B Class rigs worth US$772 million. Successive deliveries of these units are scheduled between 2H2013 and 1H2014.
• Standard Drilling ordered its first jackup rig from Keppel FELS in November 2010 with two options. In addition, it acquired two jackups under construction as well as two option rigs from Clearwater Capital Partners LLC (Clearwater), another Keppel FELS customer, in a transaction where Clearwater became the largest shareholder of Standard Drilling.
• Standard Drilling now has a combined fleet of seven KFELS B Class rigs, all being built exclusively at Keppel FELS.
• The four new orders from Standard Drilling have brought the total value of contracts secured by Keppel Offshore & Marine for the year-to-date to more than S$6.4 billion.

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• Keppel wins US$180 mil KFELS B Class jackup rig contract from Standard Drilling 
• Keppel wins twin jackup rig order from Gulf Drilling at US$393 million
   

Keppel wins twin jackup rig order from Gulf Drilling at US$393 million

Keppel wins twin jackup rig order from Gulf Drilling at US$393 million:

• Press Release

Key Points

• Keppel FELS Limited (Keppel FELS) has secured contracts to build two high-specification KFELS B Class Bigfoot jackup rigs from returning customer Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar, worth about US$393 million. 
• These latest contracts follow closely after Keppel FELS was awarded a newbuild jackup rig contract by one of GDI’s Shareholders, Japan Drilling Company, in March this year.
• Scheduled for delivery in the third quarters of 2013 and 2014, the two latest rigs mark GDI’s first new orders in six years, and will increase the company’s jackup fleet count to seven units.

About Gulf Drilling International Ltd. (q.s.c.)
GDI is a world class drilling service provider offering safe, efficient and innovative drilling services. On May 18, 2004 GDI, was established as the first onshore and offshore oil and gas drilling company in Qatar. GDI was formed as a joint venture between Qatar Petroleum (QP 60%), Qatar’s national oil corporation, and Japan Drilling Co., Ltd. (JDC 40%), a Japanese drilling company with more than 40 years of offshore experience. The paid-up capital was US$ 103.2 Million.

In July 2007, QP acquired another 25% of JDC shares raising their ownership in GDI to 70%. On 12th February 2008, the shares of QP were transferred to Gulf International Services (q.s.c.) (GIS) which became a public shareholding company on 26th May 2008 and is listed on the Qatar Exchange. GIS now holds 70% of the shares of GDI.

GDI is a growth-oriented company. GDI’s rig fleet has grown to nine rigs and its workforce to 830 employees. It currently operates a fleet consisting of five offshore jack-up rigs and four land rigs. GDI is already the owner of two jack-up rigs built by Keppel FELS; the Al-Khor, delivered in December 2006 and the Al-Zubarah, delivered in February 2008.

For more information on GDI, please visit www.gdi.com.qa

Keppel Corp Bonus Issue - Listing of Bonus Shares and Trading in Odd-lots

Keppel Corp Bonus Issue - Listing of Bonus Shares and Trading in Odd-lots:

• Press Release

Key Points

• The Bonus Shares will rank pari passu in all respect with existing shares in the capital of the Company, except that Bonus Shares will not be entitled to the final dividend in respect of the financial year ended 31 December 2010. 
• The Bonus Shares will be listed and quoted on the Singapore Exchange Securities Trading Limited (“SGX-ST”) and trading in the Bonus Shares is expected to commence at 9.00 a.m. on 9 May 2011.
• For the purposes of trading on the Main Board of the SGX-ST, each board lot of KCL shares comprises 1,000 KCL shares. However, Shareholders who receive odd-lots of Bonus Shares pursuant to the Bonus Issue should note that a temporary counter for trading of KCL shares in board lots of 100 KCL shares has been established for a period of one calendar month from 9 May 2011 to 9 June 2011 (“Concession Period”) for their convenience.

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