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Keppel O&M secures another two jack-up rig charter contracts

Saturday, May 28 2022

General – jack-up rigs

Keppel Offshore & Marine has signed contracts for the bareboat charter of another two KFELS B Class rigs to be deployed in the Middle East.

The rigs will be chartered to an established drilling company in the Middle East for deployment in 4Q 2022 for a period of three years, with options for a year’s extension.

Total revenue from the charters, including the options and modification works by Keppel O&M to prepare the rigs for on-site operations, is expected to be up to S$120m.                                                  

These contracts come on the back of two bareboat charters by Keppel O&M announced on 9 May 2022, reflecting the growing demand for Keppel’s high-quality jack-up rigs amidst the improving oil and gas market.        

The two rigs to be used for these charters will be from the terminated newbuild rig contracts with certain customers that Keppel O&M had announced on 13 April 2022.

Related posts:

  1. Singapore yard Keppel terminates contracts
  2. Keppel O&M completes offshore substations for Ørsted
  3. Keppel signs global framework agreement with Ørsted
  4. Integration work on newbuild FPSO BW Barossa

Filed Under: International News, Jack up, Keppel Tagged With: jack-up rigs, Keppel, Middle East


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