Keppel Fels to Build Four Rigs for Grupo R

By on March 29, 2013

Keppel Fels has won a US$820 million contract to build four jack-up rigs for Mexico’s Grupo R.

The new rigs will be designed to drill to water depths of 30,000 feet and operate down to 400 feet, the Singapore-based marine construction firm said.

The rigs will be delivered from the second quarter through the fourth quarter of 2015.

With the new contracts, Keppel Fels has 10 rigs it is building for clients based in Mexico, including  a contrat for two rigs for national oil company PEMEX that were booked in December.

Sector analysts Jason Saw and Lee Yue Jer of DMG & Partners Research estimated that the new orders have lifted Keppel’s orderbook value to US$1.2 billion, which is 32 percent of its full-year forecast.