Keppel FELS Limited (Keppel FELS), the wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), and Maersk Contractors have inaugurated the new DSS 21 proprietary design semisubmersible (semi), which is also the most technically advanced deepwater drilling rig to be designed and completed by Singapore to date.

The Maersk Developer was named in the presence of Guest-of-Honour, Mr Lim Boon Heng, Minister, Prime Minister’s Office, by Mrs. Kari Reinertsen, wife of Mr ?ivind Reinertsen, President of StatoilHydro (North America Operations). The Maersk Developer is the first in a series of three DSS 21 deepwater semi rigs that Keppel FELS is building for Maersk.

Keppel O&M is the only shipyard group in the world to have its own suite of proprietary deepwater rig designs. The DSS 21 design is jointly developed by the Company’s Deepwater Technology Group, Marine Structure Consultants of the Netherlands and Maersk Contractors.

Guest-of-Honour, Mr Lim Boon Heng, Minister, Prime Minister’s Office said, “About 30% of jackup rigs and 16% of semisubmersibles currently under construction in the world are designed by Singapore companies. In the semisubmersible category, all the Singapore-designed rigs come from Keppel O&M as the result of its investment in R&D since the 1980s.

“Keppel has been a good example of how Singapore companies can position themselves higher up the value chain by using technology innovation to build enduring businesses.“

Mr Claus V. Hemmingsen, CEO of Maersk Contractors said, “The successful construction of the new DSS 21 rig is built on the firm foundation of an excellent partnership between Maersk and Keppel. The Maersk Developer will be a new cost efficient solution for deepwater exploration and development, which will serve our customers well.”

The two other DSS 21 semi rigs presently under construction in Keppel FELS are scheduled for delivery in the second quarters of 2009 and 2010 respectively.

Mr Choo Chiau Beng, Chairman and CEO of Keppel O&M said, “Our proprietary designs have been developed with strong input from our customers because our technology innovation must ultimately create value for them.

“We are pleased to work with trendsetting partners such as Maersk Contractors, who have over the years given us the necessary platforms to develop and launch our proprietary solutions. We would like to thank Maersk Contractors for choosing Keppel as the preferred partner for their fleet expansion plans.”

The DSS 21 series features a dynamic positioning system, with the ability to attach to a prelaid mooring system. Capable of operating at water depths of 3,000 metres and drilling down to 10,000 metres, this series of semi-submersibles are well suited for the conditions of offshore Brazil, West Africa, Gulf of Mexico and Southeast Asia. Designed for maximum uptime with reduced emissions and discharges, the DSS 21 series is an environmentally friendly solution for the offshore industry.

To date, Maersk Contractors has invested S$3 billion worth of projects with Keppel Offshore & Marine. These projects include the construction, repair and conversion of rigs and floating production storage and offloading facilities. In addition to the deepwater semis, Keppel FELS has also been assigned the construction of four jackup rigs for Maersk, the first of which, Maersk Resilient, was delivered in January 2008.

Maersk Contractors is the offshore subsidiary of the A.P. Moller-Maersk Group, the world’s leading container shipping company. Maersk Contractors is a significant drilling contractor and supplier of floating production solutions. The fleet counts 26 drilling rigs and four FPSOs, including three High Efficiency jackup rigs and two deepwater development semisubmersibles under construction by Keppel FELS.

Keppel FELS is a wholly-owned subsidiary of Keppel Corporation Limited, 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 for solutions for the offshore and marine industry.