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Keppel FELS delivers first rig of 2018 to Borr Drilling

Keppel FELS Ltd (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, SAGA, to Borr Drilling Limited (Borr Drilling) safely, on time and on budget.

Built to Keppel's proprietary KFELS Super B Class design, SAGA is the first of five jackup rigs that Keppel is building for Borr Drilling.

Mr Chris Ong, CEO of Keppel O&M, said, "We are pleased to deliver the first rig to our new customer Borr Drilling. This will be the 12th KFELS Super B Class rig and the 66th rig of the KFELS B Class family to enter the market. Keppel O&M continually engages our customers to develop win-win solutions. As the drilling market recovers, the quality and capabilities of our KFELS B Class designs would be important differentiators for rig owners seeking efficient and reliable operations. Our rigs have set the industry benchmark and we are confident that this rig will be just as successful when deployed."

The KFELS Super B Class rigs are designed to operate in 400 feet water depth and drill to 35,000 feet. With a two million pound drilling system and a maximum combined cantilever load of 3,700 kips, the KFELS Super B Class is equipped with tremendous horsepower during drilling operations.

The CEO of Borr Drilling, Mr Simon Johnson, added, "Jackup utilisation is improving as we recover from the bottom of the business cycle. The market preferentially rewards contractors who invest in the latest designs from the best shipyards. Our partnership with Keppel FELS allows us to provide rigs with leading edge specifications ready to deliver the highest operational performance to our customer base. We are looking to be paid for the performance that we deliver and our relationship with Keppel FELS is one of several crucial partnerships we are fostering that are focused on improving industry outcomes. Our KPI's are focused on accelerating time to first oil."


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About Keppel FELS
Keppel FELS is a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), a wholly-owned company of Keppel Corporation Limited. Keppel FELS is a leading designer, builder and repairer of high-performance mobile offshore rigs. Its portfolio of proprietary designs and floating production solutions meets a broad spectrum of operating requirements, including deep waters and harsh environments.

As a group, Keppel O&M is also a leader in ship repair and conversion, and specialised shipbuilding. Its near market, near customer strategy is bolstered by yards and offices in some 15 countries across 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. For more information on Keppel FELS, visit www.keppelfels.com

About Borr Drilling
Borr Drilling is an international drilling contractor that owns and operates jack-up rigs of modern and high-specification designs providing drilling services to the oil and gas exploration and production industry worldwide in water depths up to approximately 400 feet.

With a low cost base, a strong and experienced organisational culture, combined with a unique capital structure, Borr Drilling is built to make a difference. For more information, visit www.borrdrilling.com

For more information, please contact:


Roy Tan
Senior Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6421
Email: roy.tan@kepcorp.com
Investor Relations

Tang Yi Bing
Assistant Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6474
Email: yibing.tang@kepcorp.com

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