Keppel FELS has entered into a deal with UMW Drilling 8, a wholly-owned subsidiary of UMW Oil & Gas, to construct a new KFELS B class jack-up rig for $218m.
The rig is the third ordered by UMW after the first rig, UMW NAGA 4, was delivered in February 2013. The second rig, UMW NAGA 5, is scheduled for completion in the second quarter of this year.
The new rig is the 75th KFELS B class ordered since 2000, claims the company.
Developed by Keppel’s technology arm, Offshore Technology Development and Bennett Offshore, the new rig features a fully-automated, high-capacity rack and pinion elevating system and a self-positioning fixation system.
It can operate in water depths of 400ft, drill to depths of 30,000ft and accommodate up to 150 men.
UMW Oil & Gas president Rohaizad Darus said that the KFELS B class rigs are efficient drilling platforms with industry-leading features and have been well-received by the market.
"Our first jack-up constructed by Keppel FELS, UMW NAGA 4, is currently deployed in offshore Malaysia, while our second rig, UMW NAGA 5, is expected to be delivered in May this year and has already secured a charter from Nido Petroleum Philippines," Darus said.
"We have taken this opportunity to acquire another KFELS B class jack-up from Keppel FELS to enable UMW Oil & Gas to accelerate the growth of our assets portfolio and meet the strong demand for premium jack-up drilling rigs in the Asia Pacific region."
The new rig is scheduled for delivery in the third quarter of 2015.
Keppel FELS is a subsidiary of Singapore-based Keppel Offshore & Marine (O&M).