Keppel to build 4 repeat jackup rigs worth US$772 million for Standard Drilling

Keppel to build 4 repeat jackup rigs worth US$772 million for Standard Drilling:

• Press Release

Key Points

• Keppel FELS Limited’s (Keppel FELS) returning customer, Oslo-listed S.D. Standard Drilling Plc (Standard Drilling), has ordered four repeat KFELS B Class rigs worth US$772 million. Successive deliveries of these units are scheduled between 2H2013 and 1H2014.
• Standard Drilling ordered its first jackup rig from Keppel FELS in November 2010 with two options. In addition, it acquired two jackups under construction as well as two option rigs from Clearwater Capital Partners LLC (Clearwater), another Keppel FELS customer, in a transaction where Clearwater became the largest shareholder of Standard Drilling.
• Standard Drilling now has a combined fleet of seven KFELS B Class rigs, all being built exclusively at Keppel FELS.
• The four new orders from Standard Drilling have brought the total value of contracts secured by Keppel Offshore & Marine for the year-to-date to more than S$6.4 billion.

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