Keppel FELS bags first contract this year
US$218m deal to build KFELS B class rig for UMW Drilling
KEPPEL Corp's marine subsidiary Keppel FELS has secured its first contract this year, to build a KFELS B class proprietary design jackup drilling rig for repeat customer UMW Drilling for US$218 million.
This is the third of its kind that UMW Drilling will own. The UMW Oil & Gas subsidiary acquired its first two jackup rigs from SD Standard Drilling, paying US$214 million for the first rig and US$223 million for the second.
As for Keppel FELS, this is the 75th KFELS B class rig ordered since 2000, or an average of six of the rig type ordered per year. The rig was designed by Keppel's technology arms, Offshore Technology Development and Bennett Offshore, and is considered by rig owners as the industry standard for modern jackup rigs.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%