Keppel FELS signs rig agreement
Posted: 20 January 2004
Keppel FELS Limited (KFELS) has signed an agreement with a wholly
owned subsidiary of the Skeie Group AS of Norway to build a rig
for US$126 million.
To effect this agreement, financing for the construction of the
rig must be completed by 16 February 2004.
Construction of the rig is expected to be around 26 months.
The rig to be built is a Keppel FELS MOD V B class enhanced jackup
capable of operating in water depths of up to 350 feet and deep
drilling of down to 35,000 feet.
The owner has an option to order within the next 6 months an additional
unit with the same technical specification as the first unit with
price adjustment for currency fluctuations.
KFELS is the world leader in the design and construction of jack-up
rigs, having built 60 per cent of the world’s fleet on order
in the last decade.
It is a wholly-owned subsidiary of Singapore-listed Keppel Corporation
Limited, through Keppel Offshore & Marine Limited.
Involved primarily in investments relating to the offshore industry,
Skeie Group SA is a private company owned by the Skeie family.
For more information see www.kepcorp.com.
Posted by Richard Price,
Editor Pipeline Magazine
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