Keppel seals US$1.1 billion order from Transocean to build oil rigs

Keppel Corp's offshore and marine unit has won a US$1.1 billion order from Transocean to build five jackup rigs.

The rigs are scheduled to be delivered progressively from the first quarter of 2016 to the third quarter of 2017, Keppel announced Thursday. Transocean has options to build up to another five similar jackup rigs with Keppel.

Keppel has already delivered three jackup rigs to them earlier this year, on time, within budget and without incidents.

The latest order brings to S$6.4 billion worth of newbuild projects that Keppel has secured this year.

In early trade this morning, Keppel shares rose 15 cents to $10.99.