Keppel seals US$360 mil contract with mermaid’s asia offshore drilling for two newbuild jackups - 2 DEC 2010

Keppel seals US$360 mil contract with mermaid’s asia offshore drilling for two newbuild jackups.

• Press Release

Key Points

• Keppel FELS Limited (“Keppel FELS”) has signed a contract to build two proprietary KFELS B Class jackup rigs worth US$360 million with Asia Offshore Drilling Limited ("AOD"), a 49% owned affiliate of Mermaid Maritime Public Company Limited (“Mermaid”). This follows a Letter of Intent entered into by Keppel FELS and Mermaid on 22 October 2010.
• The two jackup rigs are scheduled for delivery in 2012 and 2013 respectively.
• As part of the contract, AOD 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 above US$720 million.  

Related Posts

• Keppel wins US$180 mil KFELS B Class jackup rig contract from Standard Drilling
• Keppel FELS enters into Letter of Intent with Mermaid for two newbuild jackup rigsworth US$360 million - 22 OCT 2010