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Broadly speaking, much of this increase in global demand can be attributed to the price of oil being sustained at a higher level than when the downturn was in full swing.
Awilco’s CEO Jon Oliver Bryce said, “This newbuild rig will be purpose-designed with the latest technology, making it cost-effective for our customers. It will be the third semi- submersible to join our  eet. With the options to order another three rigs, we are well-positioned for the market recovery.”
Keppel has previously delivered three jack- up rigs to the same management team. Keppel O&M CEO Chris Ong said that the yard group has “worked closely with Awilco “to customise the rig speci cations. Real-time data will be used in the rig’s operations and maintenance and this will enhance its ef ciency and robustness.”
Operators are also starting to reactivate their idle rigs. With over a dozen jack-ups warm- and cold-stacked off Southeast Asia, both Sembcorp Marine and Keppel O&M are well placed to capture a good slice of the reactivation work.
In 2017, Singapore delivered a well intervention semi-submersible, the Helix Q7000, repaired one drillship and 14 jack-ups and semi- submersible rigs.
Fresh Wind
Sembcorp Marine is harnessing its offshore capability to break new ground involving offshore wind energy. In late 2018, it signed an agreement with Ørsted Wind Power subsidiary Optimus Wind Limited for the engineering, procurement, construction, hook-up and commissioning work on two topsides, to be deployed on the Hornsea 2 offshore wind farm in the United Kingdom. The 1.4-GW Hornsea 2 offshore wind farm is set to be the world’s largest when operational in 2022.
The topsides, which will weigh about 8,700 tonnes in total, will be fabricated at Sembcorp Marine facilities for delivery in early 2021.
It is Singapore’s hope that this ground- breaking project will be a precursor for many more projects as wind energy is gaining traction in our more eco-conscious world. Market Research Future expects the global offshore wind market could grow at a CAGR of 11 to 12%during the forecast period 2018- 2023. Already oil and gas majors such as Shell and Statoil are diversifying their portfolios by developing offshore wind.

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