No Slowdown in Sight for Deepwater Rigs, Keppel Signs $4.1 Billion Order

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August 6, 2012

Advanced Deepwater Rig – DSS™ 38E, Image: Keppel O&M

SINGAPORE–Keppel Corp. Ltd. (BN4.SG) Tuesday said it has firmed up contracts to build five additional semisubmersible drilling rigs for Sete Brasil Participacoes SA for US$4.1 billion.

The five rigs will be based on Keppel’s DSS 38E design and are scheduled for delivery in the fourth quarter of 2016, third quarter of 2017, second quarter of 2018, fourth quarter of 2018 and third quarter of 2019, respectively.

The contracts follow a deal signed by Keppel Corp. to build one such rig for Sete Brasil in December.

– Sam Holmes, Dow Jones & Company

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