Keppel wins job to build world's tallest jack-up rig

KEPPEL Corporation, through Keppel FELS, has secured a US$500 million contract to build an ultra-high specification jack-up rig that can work in the deepest water depths for the jack-up rig type.

The contract was awarded by TS Offshore, a China-focused rig owner. The proprietary KFELS N Plus-designed rig is built to be deployed in the Eastern China Sea, as well as having the capability to potentially be deployed in the North Sea.

The latest contract is another indication of the continued strength of Keppel Corp's global offshore oil & gas exploration and production segment. This is particularly so for shallow to mid-water and ultra-deep water exploration, going by the contracts won by Keppel Corp and another Singapore-listed rig builder, Sembcorp Marine, over the past two months.