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Floatel International and Keppel Corp Make Plans to Build a 4th Accommodation Rig

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March 27, 2012

SINGAPORE (Dow Jones)–Keppel Corp. Ltd. (BN4.SG) on Wednesday said it signed a letter of intent with returning customer Floatel International Ltd. to build an accommodation rig worth US$315 million.

The semisubmersible rig, designed for harsh environments and able to accommodate 440 people, is planned for delivery in July 2014. A further announcement will be made when the contract is signed, Keppel said in a statement to the Singapore Exchange.

This will be Floatel’s fourth accommodation semisubmersible rig with Keppel.

-By Matthew Allen, Dow Jones Newswires

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