Keppel FELS Ltd. and Floatel International Ltd. have finalized a contract for Keppel FELS to build a new generation harsh environment accommodation semisubmersible worth $315 million.

This will be Floatel's fourth accommodation semisubmersible with Keppel FELS after the delivery of Floatel Superior and Floatel Reliance in 2010 and the order of Floatel Victory in 2011, which is scheduled for delivery in 4Q 2013.

With delivery in early 2015, the new semisubmersible will be built to the Floatel Superior design, a DSSTM 20NS design developed by GustoMSC and Keppel FELS' deepwater technology group.

The semisubmersible will have a large payload and deck area in combination with dual cranes, making it ideal for construction support during new construction, maintenance activities or for decommissioning projects of offshore oil and gas installations. It will be able to accommodate 440 persons in single-bed cabins with ample recreation areas as well as office amenities.

Floating accommodation platforms are needed to provide additional living quarters for support personnel in exploration and production activities. Such support personnel are required during hook-up and commissioning in the development phase, for maintenance and upgrading during the production phase, as well as for decommissioning.