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18 Aug 2012

Keppel to deliver one of the world’s largest multi-purpose offshore wind turbine installers

Keppel FELS Limited (Keppel FELS) is on track to deliver Seafox 5, one of the largest and most advanced multi-purpose offshore wind turbine installers of its kind to the Seafox Group, ahead of time and with an impressive safety record.

The vessel was named on 18 August 2012 at Keppel FELS with Singapore's Acting Minister for Manpower and Senior Minister of State for National Development, Mr Tan Chuan-Jin, as the Guest of Honour.

He said, "As the first offshore wind turbine installation vessel built in Singapore, Seafox 5 marks a significant milestone in the capabilities and innovation by a Singaporean shipyard. I am glad to learn that, in line with Singapore's push for increasing productivity, Keppel has been able to deliver this vessel more than a month ahead of schedule and with an excellent safety record. This reflects a goal that every company should aim towards: a productive workplace where the job is not only completed well and fast, but also enables every worker to return home to his family safely at the end of the day."

Built to Keppel's proprietary Multi-Purpose Self-Elevating Platform (MPSEP) design, Seafox 5 is a new-generation offshore wind turbine installation vessel that can withstand harsh offshore environmental conditions all year round in the deeper waters of the North Sea.

It has been chartered to the joint-venture company of Aarsleff Bilfinger Berger (ABJV) Dan Tysk to install offshore wind foundations in the 288 megawatt (MW) Dan Tysk wind farm in the German Sector of the North Sea.

Mr Wong Kok Seng, Managing Director, Keppel FELS said, "This achievement demonstrates our ability to leverage our R&D and execution capabilities to participate and add value effectively in a segment of the market which is relatively new to Keppel. Together with our other investments, we believe we are well-poised to take on a larger slice of the global offshore wind market.

"We will continue to use our market knowledge, rig technology and construction expertise to offer prime solutions that enhances the productivity of installing and maintaining offshore wind farms at various phases."

The global offshore wind market is expected to reach nearly 95 gigawatts of installed wind energy capacity by 2025, according to IHS' Global Offshore Wind Energy Markets and Strategies: 2012-2025 report. The report forecasts that global offshore wind investment between 2011 and 2025 is set to climb nine-fold from US$6 billion to US$52 billion.

Mr Keesjan Cordia, CEO of Seafox said, "The fact that Seafox 5 has already received a charter for immediate work speaks of the strength of the MPSEP design, the reputation of Keppel-made products and Seafox's track record in multi-support service jackups across the world.

"We see that demand for such vessels will continue to rise with the commercialisation of 5MW wind turbines over the next few years. Seafox 5 is a new generation vessel which will be able to out-perform existing marine assets both on cost and efficiency in wind installation. In addition, this state-of-the-art vessel has been specifically designed to meet all the requirements of both the offshore wind and the oil & gas industries in harsh environments."

Measuring 50m wide and 151m end-to-end, Seafox 5 will be among a handful of purpose-built jackups with a 1200-tonne heavy lift capacity and capable of installing both turbines and large foundations exceeding 800 tonnes in weight.

Together with its environmental capabilities, stability coverage, deck space of 3,600m2 and a variable load of 7,000 MT, it is able to outperform most other jackups and be competitive with the floating heavy lift vessels.

Designed by Keppel's research and development arm, Offshore Technology Development (OTD), Seafox 5 is a self-propelled installation jackup vessel utilising Keppel FELS' proven jacking technology. Equipped with Dynamic Positioning 2 (DP-2) capabilities, the vessel is elevated above sea level by four legs which provide 30m of clearance between the legs & crane for easy cargo access.

Seafox 5 has a large carrying capacity of up to 12 3.6MW turbines, three jackets or four tripods at a time, which enhances the efficiency of constructing offshore wind farms.

In addition to being well-suited for servicing offshore wind farms, it also meets the stringent operating regulations of the offshore oil and gas industry and can support a wide range of related activities such as accommodation, hook-up, commissioning, well intervention, maintenance, construction and decommissioning.

Features of Seafox 5 - A KFELS MPSEP design

Operates in deeper waters  Max. 65-70 meters
Wider operating window  All-year-round
Larger deck space  3600m2
Higher loading capacity  7000 metric tonnes
Higher carrying capacity  Up to 12 3.6MW turbines, 6 6MW turbines, 3 jackets or 4 tripods
Larger crane capacity  1200 tonnes
Accommodates bigger crew  150 people
 Other features  • Compliant with oil & gas requirements and able to support a variety of related activities.

• Uses Keppel FELS's proven jacking technology

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.

Keppel O&M's participation in the offshore wind energy sector is synergistic to its core business. It currently has a 49% stake in Seafox 5 (SF5 Ltd). It also has a 49.9% stake in offshore wind turbine foundation designer OWEC Tower (AS). Keppel is able to tap on OWEC Tower's expertise to further develop its business in the design and construction of offshore wind turbine foundations as well as installation and support vessels.

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 a global network of 20 yards and offices 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.

About Seafox Group
Founded in 1991, the Seafox Group is a leading provider of offshore accommodation and multi-support service jack ups across the world.

The Seafox Group services a global range of customers with a primary focus on the Southern North Sea in Europe. It has extensive experience operating and managing assets in this region, which is known for its stringent rules and regulations, and difficult environment.

Currently, the Group owns five jack-ups and 50 temporary living quarters.All jack-ups are time chartered out on full service contracts to respectable customers (e.g. Shell/NAM, Total, Perenco, BP, Centrica etc.) in the Southern North Sea on short and long term bases.

The Seafox Group's operational activities are fully outsourced to Workfox BV/Ltd situated in Hoofddorp NL and Great Yarmouth UK. Workfox BV/Ltd is the largest leading operator of multi-support service jack-ups in the Southern North Sea and has been the exclusive manager of the Seafox fleet since the early 90's.

About ABJV DanTysk
ABJV DanTysk is a joint venture company between Bilfinger Berger Ingenieurbau GmbH, a world leader in major infrastructure projects and Per Aarsleff A/S, a Danish infrastructure contractor.

For further information, please contact:

Roy Tan
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6421 / 9622 5230
Investor Relations
Chua Ying Ying
Assistant General Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6295