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Keppel in deal to push back Parden rig delivery

Agreement provides for rig's resale to associate of guarantor to Parden's obligations in the rig contract

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Published Fri, Dec 30, 2016 · 09:50 PM

    Singapore

    KEPPEL Corporation said after trading hours on Friday that its rig-building arm, Keppel Fels, has entered into a settlement agreement towards the construction of a jack-up rig that was intended for delivery to Uruguay-based Parden Holding SRL.

    The agreement provides for the resale of the rig to the associate of a guarantor to Parden's obligations under the rig-building contract but on a two-year deferment to the rig delivery.

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