Keppel FELS secures US$650m rig job

KEPPEL FELS has secured its second contract for the year with a US$650 million job to build three of its KFELS B class proprietary jack-up rigs for new customer Fecon International.

Despite being a newcomer to the offshore drilling segment, Fecon is targeting offshore drilling in Russia as a key market that offers strong growth, given what the company said is its "extensive network and experience and knowledge of working in Russia". The group also intends to deploy the rigs in offshore drilling markets of Africa, the Middle East and South-east Asia.

"Building three premium rigs at the same time will enable us to accelerate our presence in this industry and establish ourselves as a serious drilling contractor in the market," said industrial entrepreneur AP Dobrov, who backs Fecon.