SINGAPORE – Keppel FELS has secured a contract from Clearwater Capital Partners to build a pair of KFELS B Class jackup rigs for $440 million, which includes owner furnished equipment and project management fees.
The rigs are scheduled to be completed in 4Q 2015 and 1Q 2016.
The KFELS B Class jackup rig is able to operate in water depths of up to 400 ft (122 m), drill to 30,000 ft (9,144 m) and is equipped with offline standbuilding capability.
“We continue to see strong demand for new high-specification jackup rigs as the industry continues its rig replacement trend,” said Dr. Yao Chye Chiang, COO of Clearwater. “Even with the number ofnew jackups entering the market this year, more than half the existing rigs will be older than 30 years by 2015.”