Keppel O&M unit finalises semi rig construction contract from Awilco Drilling

RIGBUILDER Keppel Corp's offshore and marine unit has finalised and entered into the repeat rig construction contract with Awilco Drilling worth about US$425 million.

On March 8, the conglomerate revealed that Keppel Offshore & Marine's (Keppel O&M) Keppel FELS will be undertaking the contract with terms of the order subject to finalisation and the signing of definitive agreements within 15 days.

The mid-water semi-submersible drilling rig for harsh environment use is scheduled to be completed in the first quarter of 2022. The rig is being built to Moss Maritime's CS60 ECO MW design, and is meant for mid-water operations in depths of up to 1,500 metres in north-west Europe.

Keppel Corp shares finished S$0.03 or 0.5 per cent down at S$6.22 before the announcement.