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Keppel Fels wins $823 million rigbuilding contracts from new customer

Published on Feb 13, 2014 8:56 PM

Keppel Fels, a unit of Keppel Offshore & Marine (Keppel O&M), announced today that it has won a US$650 million (S$823 million) contract to build three rigs for a new customer, Fecon International Corp.

The rigs, which are slated to be delivered progressively in the second half of 2016, can operate in water depths of 400 feet and drill up to 30,000 feet.

With these new orders, Keppel O&M currently has 27 KFELS B Class rigs on order.

Fecon, which is a new player in the offshore oil and gas industry, aims to target the growing offshore drilling markets of Africa, Middle East, and Southeast Asia.

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