Keppel
FELS sells three rigs for US$55 million
Posted: 19 February 2004
Further to the announcement on 18 February 2004, Keppel FELS Ltd
(Keppel FELS) has signed an agreement to sell three rigs to a drilling
services company for a cash consideration of US$55 million, payable
upon delivery expected in end May 2004.
The three rigs, the ENSCO 55 jackup and ENSCO 23 and ENSCO 24 platform
rigs, are part of the consideration for the construction of a new
rig for ENSCO International Incorporated (ENSCO).
“Apart from the sale, we are expected to upgrade and refurbish
one of the rigs, the ENSCO 55, in one of our shipyards,” said
Mr Tong Chong Heong, Managing Director and Chief Operating Officer
of Keppel FELS’ parent company, Keppel Offshore & Marine
(Keppel O&M).
A wholly owned subsidiary of Keppel Corporation Limited, Keppel
O&M operates a network of 16 yards worldwide in order to offer
one-stop solutions to customers in the different markets. Keppel
FELS is the world leader in the design and construction of jackup
drilling rigs.
The transaction is not expected to have material impact on the
net tangible assets and earnings per share of Keppel Corporation
for the year ending 31 December 2004.
For more information www.kepcorp.com
Posted by Richard Price,
Editor Pipeline Magazine
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