Keppel Lands Repeat Rig Orders From Standard Drilling

SINGAPORE (Dow Jones)–Singapore-listed rig builder Keppel Corp. Ltd. (KPELY, BN4.SG) Sunday said its subsidiary Keppel FELS Ltd. has secured US$772 million in repeat rig orders from Norway’s Standard Drilling PLC (SDSD.OS).

Successive deliveries of the four KFELS B Class rigs is expected in the second half of 2013 and the first half of 2014, the company said in a statement.

“Standard Drilling now has a combined fleet of seven KFELS B Class rigs, all being built exclusively at Keppel FELS,” Keppel said.

“The four new orders from Standard Drilling have also brought the total value of contracts secured by Keppel Offshore & Marine for the year-to-date to more than S$6.4 billion.”

-By Sam Holmes, Dow Jones Newswires