Keppel unit selling 5 rigs to Borr Drilling for US$745m

Singapore

KEPPEL Offshore & Marine (Keppel O&M) has sealed a deal to sell five jack-up rigs to Borr Drilling for around US$745 million.

The price, which works out to US$149 million per rig, excludes any down payments made by the original owners.

The Business Times first reported in January about a deal in the making between Borr Drilling and Keppel Fels for the sale and resale of multiple jack-ups. Keppel also confirmed that two of the five rigs included in the Borr Drilling deal were built for Grupo R an…