Fossil Energy – Drilling
Keppel FELS has delivered the first of three jack-up rigs to ADNOC Drilling Company.
The three rigs were part of a series of five rigs that Keppel FELS had been building for Bermuda-based Borr Drilling.
Keppel O&M said it has received a full payment of approximately $160mn having delivered the first rig. As part of the novation agreement, the Singapore-based will also receive full payments for each of the two remaining rigs on delivery.
Keppel O&M expects to receive at least $352mn for all three rigs between 2022 and 2023. This is in addition to down payments Keppel O&M had initially received from the previous customers for the rigs, it said.
This first rig delivered is built to the KFELS Super B Class design, which is capable of operating in water depths of over 400 feet, drilling to depths of 35,000 feet, and drilling deep wells both vertically and horizontally.
