Keppel wins US$180 mil KFELS B Class jackup rig contract from Standard Drilling

Keppel wins US$180 mil KFELS B Class jackup rig contract from Standard Drilling.

Press Release

Key Points

• Keppel FELS Limited (Keppel FELS) has secured an order for a KFELS B Class jackup rig worth US$180 million from Standard Drilling Ltd (Standard Drilling), a subsidiary of Norwegian investment company, Ferncliff TIH AS Group (Ferncliff).
• As part of the agreement, Standard Drilling has been given options to build another two similar jackup units. If exercised, the options for the additional two rigs will bring the total contract value to about US$550 million.
• The first rig is slated for delivery in 2H 2012.