Keppel FELS bags first contract this year

US$218m deal to build KFELS B class rig for UMW Drilling

Published Thu, Feb 6, 2014 · 10:00 PM
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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.

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