Keppel O&M announces novation of contract from BOTL to Borr Drilling
Add BT as a preferred sourceKEPPEL Corporation on Monday said that Keppel Fels, a wholly-owned subsidiary of Keppel Offshore & Marine, has inked a novation agreement with Borr Drilling and BOT Lease Co.
The agreement is to replace the construction contract of the jackup rig currently being built by Keppel Fels for BOTL, to Borr Drilling.
Under the deal terms, Borr Drilling will take over the contract of the jackup rig from BOTL, which has already paid Keppel FELS in full for the rig, except for the portion of extension costs to be due at delivery.
Based on the construction contract, the delivery schedule of the rig remains as January 2020.
Share with us your feedback on BT's products and services
TRENDING NOW
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
