Rig: Valaris 8502

Keppel FELS delivers first rig of 2010 on time and within budget

Keppel FELS Limited (Keppel FELS) has delivered ENSCO 8502, the third of seven ENSCO 8500 Series® semisubmersible (semi) drilling rigs it has been contracted to build exclusively for Ensco International (NYSE:ESV). Delivered seven days ahead of schedule, ENSCO 8502 is on track to commence operations in the U.S. Gulf of Mexico in the second quarter of 2010, under a two-year contract with Nexen Petroleum U.S.A. Inc. with term extension options. The early completion was a culmination of progressive productivity gains achieved by Keppel FELS on the construction of the Series. Construction lead time for ENSCO 8502 was reduced by 1.1 million manhours, as compared to the first rig in the Series. This represents a 15% boost in efficiency.

Keppel to deliver third ENSCO 8500 Series® ultra deepwater semisubmersible on time and within budget

Keppel FELS Limited (Keppel FELS) is on track to deliver ENSCO 8502, the third of seven ENSCO 8500 Series® semisubmersible drilling rigs it has been contracted to build exclusively for Ensco International Incorporated (NYSE: ESV). Today, the rig was named at Keppel FELS by Lady Sponsor, Mrs Cambria Reinsborough, wife of Mr Brian Reinsborough, President of Nexen Petroleum USA Inc, in the presence of Guest of Honour, Mr Heng Chee How, Singapore’s Minister of State, Prime Minister’s Office. Following her scheduled delivery, mobilisation and final outfitting, ENSCO 8502 will commence operations in the US Gulf of Mexico under a two-year contract with Nexen Petroleum U.S.A. Inc. during the second quarter of 2010.

Keppel FELS secures third semi contract from ENSCO within a year

Keppel FELS Limited (Keppel FELS) has secured a repeat order for an ultra-deepwater semisubmersible (semi) drilling rig from a wholly-owned subsidiary of ENSCO International Incorporated (ENSCO). The total project value is approximately US$385 million. To be named ENSCO 8502, the semi is scheduled for delivery by the end of 2009. This rig is similar to the first two semis, ENSCO 8500 and ENSCO 8501, which will be delivered in second quarter of 2008 and first quarter of 2009 respectively. Keppel FELS is also building an ultra-high specification jackup rig, ENSCO 108, for ENSCO, and this rig is scheduled for delivery in the second quarter of 2007. All three rigs have firm drilling contracts.