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Marine Log

January 28, 2008

More jack-up deliveries from Keppel FELS

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has completed the construction of its second jackup drilling rig for Gulf Drilling International Ltd (GDI), a joint venture between Qatar Petroleum (QP) and Japan Drilling Co., Ltd. (JDC).

Named Al-ZubarahAt a ceremony on January 26, the rig has been built to Keppel's proprietary KFELS B Class design, customized to GDI's requirements for drilling in the Arabian Gulf. Al-Zubarah is capable of operating in water depths of up to 300 feet, drilling 30,000 feet deep and accommodating up to 110 men.

Mr Yousif R. Al-Khater, CEO of GDI said, "We are proud that Al-Zubarah is completed safely with a good record of construction progress. I appreciate the effort, dedication and professionalism of the Keppel FELS Management and their staff. Because of the excellent relationship that we share, the rig is completed and ready for delivery to our client."

Mr Choo Chiau Beng, Chairman and CEO of Keppel O&M, said, "With the addition of Al-Zubarah to its fleet, GDI is a step closer to realise its vision of becoming a world class drilling services provider. Keppel FELS is honoured to play an important role in helping GDI, and Qatar, to achieve its aim."

Al-Zubarah is the second KFELS B Class jackup that Keppel FELS has completed for GDI. The first rig, Al-Khor, is successfully operating offshore Qatar in the Arabian Gulf.

Apart from offshore drilling rigs, the Keppel Group is also building what will be Qatar's first integrated solid waste treatment facility and its largest wastewater treatment and reuse plant. Other collaborations include the setting up of a shipyard in the port of Ras Laffan and the survey, maintenance and repair of a fleet of Liquefied Natural Gas (LNG) carriers chartered by Qatar Liquefied Gas Company Ltd (Qatargas).

Keppel FELS also delivered another jackup drilling rig 10 days ahead of contractual schedule to Awilco Offshore ASA (Awilco), a member of the Anders Wilhelmsen Group.

Like Al-Zubarah, this jackup rig, WilBoss, is of the KFELS B Class rig design.

Mr Tong Chong Heong, Managing Director and COO of Keppel O&M, said, "Keppel FELS aims to be the provider of choice and partner in solutions by creating value for our customers, delivering cost effective, high quality products, on time and within budget. We are happy to achieve this early delivery despite the tight market for labour and equipment.

"We owe this to the support of our sub-contractors, vendors and customers as well as the excellent planning and hard work of our people at all levels."

The rig is the second of three rigs Keppel FELS is building for Awilco. The first rig, WilCraft was delivered ahead of schedule in December 2006. The third rig is scheduled for delivery in second quarter of 2009.

Mr Pete England, Area Manager of Awilco said, "On behalf of Awilco, I would like to congratulate Keppel FELS for delivering WilBoss on schedule and on budget. This is truly a major achievement."

Keppel FELS is a wholly-owned subsidiary of Keppel Corporation, through Keppel O&M, a leader in offshore rigs, shiprepair and conversion and specialised shipbuilding. Keppel O&M's near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry.

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