Keppel Corp signs a deal with AWILCO to build semi-submersible rig
Date: 2018-03-12   Author: Saipriya Iyer  Category: #news

Keppel Corp signs a deal with AWILCO to build semi-submersible rig

Keppel Offshore & Marine has apparently been awarded a contract of USD 425 million from AWILCO Drilling Plc to build a midwater, semi-submersible harsh-environment drilling rig. Allegedly, under the agreement, the yard group is supposed to complete the proposed construction by the first quarter of 2021.

As per authentic sources, AWILCO has finalized the contract after successfully completing a private placement envisioned to finance the rig construction. The UK based drilling contractor, for the record, has raised a fund of almost USD 65 million from its equity raising exercise.

Speaking of the deal, Jon Oliver Bryce, the CEO of AWILCO Drilling Plc has been quoted saying that Keppel Fels, Keppel Offshore & Marine’s popular rig-building unit has been chosen among a slew of choices, solely on the grounds of its expanding mid-water harsh environment rig activities of recent times. He further added that Keppel Fels is fully equipped to offer unique value-added solutions to the drilling contractor.  

If reports are to be relied on, the latest rig would be incorporated with state-of-the-art technology, in a bid to make it highly customized, purpose oriented, and cost-effective. In fact, the O&M arm of Keppel Corp. has been closely working with AWILCO for a while now in order to tailor the rig specifications as required.

Real-time data would be utilized in rig operations so that it enables more efficiency and robustness, cite sources. Allegedly, it would be AWILCO’s third semi-submersible rigs to join the firm’s fleet. For the record, prior to receiving this new contract, the world’s leading rig builder had also distributed three jack-up rigs to the same team.

As per an official statement, Keppel O&M has also negotiated independent options with AWILCO to construct three other rigs of similar specifications, claimed to be exercised within 1, 2, and 3 years respectively.



About Author


Saipriya Iyer

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

More from Saipriya


Post Recommendents

Melanocyte Protein PMEL Market Size – Advanced Technologies & Growth Opportunities in Global Industry By 2026
Author: Ashwin Naphade

Global Melanocyte Protein PMEL Market report contains all study material about overview, growth, demand and forecast research report in all over the world. This report offers some penetrating overview and solution in the complex world Global Melan...


Anaplastic Astrocytoma Drug Market Presents an Overall Analysis, Trends and Forecast to 2025
Author: Ashwin Naphade

Global Anaplastic Astrocytoma Drug Market, 2020-2025 Research Report provides crucial statistics on the market status of the Global Anaplastic Astrocytoma Drug manufacturers and is a respected source of guidance and direction for companies and ind...


Ultrasonic Corneal Pachymeter Market Shares, Strategies and Forecast Worldwide, 2020-2025
Author: Ashwin Naphade

For overview analysis, MarketStudyReport.com offers Global Ultrasonic Corneal Pachymeter Market research report with basic information including definition, classification, application, industry chain structure, industry overview, policy analysis,...