Mrs Cynthia Bryant, Gracious Lady Sponsor for this morning’s naming ceremony;

Mr Daniel Rabun, Chairman, President and CEO of Ensco plc;

and Keppel’s guests from overseas,

I am happy to be here today not just to welcome you all as valued customers and partners of Keppel FELS, but also to welcome you as honoured guests and friends of Singapore.

Distinguished guests, Keppel friends, Ladies and Gentlemen:
It is a great pleasure for me to join you this morning for the naming of the ultra-deepwater rig, ENSCO 8503.

Ensco is a leading provider of offshore drilling services. It enjoys a growing reputation for its expertise in the ultra deepwater market. Ensco grew from humble beginnings in 1987 to become a major offshore drilling company today, with rigs operating in many of the most prolific oil and gas fields around the world.

Keppel FELS has had the happy fortune of growing in partnership with Ensco for over two decades. In particular, I am delighted to hear that nearly one third of Ensco’s current fleet was built by Keppel FELS. Even more encouraging in the remarkable partnership between Keppel FELS and Ensco is the trust that Ensco has given to Keppel FELS as the exclusive builder of its ultra deepwater rigs. This is a programme of seven semi-submersibles, worth about US$3 billion in total. This level of commitment to a single yard is testimony to the strength of the partnership and mutual trust and confidence between Ensco and Keppel FELS.

The ENSCO 8500 series of rigs is the product of the outstanding design expertise of Ensco, and the construction and engineering capabilities of Keppel FELS. With two sister rigs in production with good track records, and a third going through stringent marine safety tests with perfect scores, I am confident that ENSCO 8503, the fourth in the series, will be an asset to Cobalt’s exploration and production activities in the Gulf of Mexico.

Ladies and Gentlemen:
The collaboration with Ensco over the last two decades has enabled Keppel FELS to hone its construction and engineering competencies, its human capital development, and safety programmes. This has helped to burnish the reputation of Keppel FELS as a leading rigbuilder.

Keppel FELS’s execution capabilities and track record have given it a strong edge overseas, and done Singapore proud. The Company recently received the Best Offshore Yard Award at the Seatrade Asia Awards 2010. Keppel FELS was also the first Singaporean enterprise to win the Manufacturing Excellence Award (MAXA) presented by the Economic Development Board in 2008.

In particular, I am very encouraged and proud to congratulate Keppel FELS on its excellent safety record. This would not have been possible without the close co-operation between the management of Keppel FELS and their partners. More importantly, it would not have been possible without the thoughtful care, competence and discipline of its supervisors and workers, Singaporeans and non-Singaporeans alike. All these are very much part of the collective “Can-Do Spirit” of Keppel FELS that have enabled the company to consistently deliver quality products to its global business partners and customers around the world.

I am also heartened today by the generous gesture of Ensco and Keppel FELS in jointly donating to the Students Care Service in Singapore. Your generous act of corporate citizenship will go a long way towards providing after-school care services for Singapore’s underprivileged youth.

Mrs Bryant, Mr Rabun, my friends in Keppel and Keppel FELS, ladies and gentlemen, please join me in wishing Ensco, Cobalt, and Keppel FELS continued success in the years ahead. May all who work on ENSCO 8503 be safe and productive.

Thank you, and congratulations.