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/ borchmoran64's Library/ Notes/ Unknown Facts About Buy Singapore's Oil-Rig
Makers - Barron's


UNKNOWN FACTS ABOUT BUY SINGAPORE'S OIL-RIG MAKERS - BARRON'S

Unknown Facts About Buy Singapore's Oil-Rig Makers - Barron's

from web site

2000 hp drilling rigs for sale land jackup


DRILL RIG/JACK-UP/SHIPS/LIFTBOAT – SALE AND PURCHASE FUNDAMENTALS EXPLAINED



Keppel Offshore & Marine Ltd (Keppel O&M) through its wholly-owned subsidiary
Keppel FELS Limited (Keppel FELS) has actually delivered the KFELS B Class
jackup rig, Cantarell III, to a wholly-owned subsidiary of Grupo R with a best
security record. As part of the deal, Grupo R has participated in a sale and
leaseback plan for the rig with a wholly-owned subsidiary of Keppel O&M.



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Keppel O&M had actually received 20% down payment of the initial contract worth
for Cantarell III when the agreement was signed in 2013. Cantarell III will be
rented back to Grupo R on a bareboat charter at competitive day rates over ten
years, and will be deployed to work in offshore Mexico on a charter which will
begin in 1Q 2020.


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Under the bareboat charter, Grupo R deserves to buy the rig at pre-agreed costs
throughout the regard to the bareboat charter. After Learn More Here , Keppel
O&M may, at its discretion, put the rig to Grupo R at a pre-agreed price. Mr Tan
Leong Peng, Executive Director (New Constructs) of Keppel O&M said, "We are
delighted to participate in a mutually useful arrangement which will allow Grupo
R to deploy another high-performance rig for its operations in Mexico.



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As Mexico seeks to increase oil production, demand for jackup rigs has been
rising. "Our first sale and leaseback arrangement with Grupo R on the Cantarell
IV has worked well. Cantarell IV, which was warm stacked in our yard from 2016
to the start of 2019, was able to go straight to the field upon shipment and
accomplish 99% uptime in its operations.


We expect Cantarell III to similarly serve Grupo R well upon implementation in
Mexico." The KFELS B Class style is the industry standard for jackup rigs. It
has proven its robustness and performance in many fields around the globe, and
more than 10 KFELS B Class systems have actually been provided to Mexico.


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Cantarell III is equipped with Keppel's proprietary Rig, Care Option - a suite
of digital services to support the rig's lifecycle requirements, substantially
increasing uptime and safety while lowering maintenance costs. Together with the
Cantarell IV jackup rig, which was provided by Keppel to Grupo R previously this
year, they are the industry's very first drilling rigs with Smart Notations.




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26 minutes ago


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