Status update on Keppel’s drillship contract with Noble

Status update on Keppel’s drillship contract with Noble:

• Press Release

Key Points

• Keppel Offshore & Marine Ltd’s (“Keppel O&M”) wholly owned subsidiary, Keppel FELS Brasil, and Noble Corporation (Noble) have agreed to terminate the contract of an upgrade to the drillship Noble Muravlenko, that was scheduled to take place in 2013, on mutually acceptable terms.
• Keppel FELS Brasil will receive a full recovery of expenses and committed costs, as well as a reasonable termination fee.
• The project was contracted with Noble in December 2009 at US$152 million.