Keppel FELS, Naftogaz cancel offshore drilling rig construction contract

Offshore staff

SINGAPORE – Keppel FELS Ltd. and Naftogaz of Ukraine have terminated an earlier award to Keppel FELS to construct two semisubmersible drilling rigs.

Keppel said “the contract will not be taking effect as certain conditions within the timeline set were not met.”

The initial contract was expected to be valued at more than $1 billion for the two rigs based on Keppel’s DSS 38D harsh-weather design.

3/14/2013

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