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    Keppel O&M delivers 1st of three jackup rigs to ADNOC Drilling

Summary

The three rigs were part of a series of five rigs that Keppel FELS, a unit of Keppel O&M, had been building for Borr Drilling.

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News

Keppel O&M delivers 1st of three jackup rigs to ADNOC Drilling

Keppel FELS, a unit of Keppel Offshore & Marine (Keppel O&M), has delivered the first of three jackup rigs to ADNOC Drilling Company, Keppel O&M said on November 24. 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.