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

Automatic Fare Collection (AFC) Station Equipment Market: Global Analysis of Key Manufacturers, Dynamics & Forecast 2020-2026
Author: Sachin Pashte

Global Automatic Fare Collection (AFC) Station Equipment Market analysis report speaks about the manufacturing process. Global Automatic Fare Collection (AFC) Station Equipment market report analyses the market growth, trends, overview & forec...


Smart Cards Automatic Fare Collection (AFC) Terminal Equipment Market 2020 Industry Analysis, Size, Share, Growth Rate and Forecast to 2026
Author: Sachin Pashte

The Global Smart Cards Automatic Fare Collection (AFC) Terminal Equipment Market 2020-2026 Renders deep perception of the Market Segment by Regions, market status of the Smart Cards Automatic Fare Collection (AFC) Terminal Equipment on a global le...


Triangulation Laser Displacement Sensors Market SWOT Analysis of Top Key Player & Forecasts To 2026
Author: Sachin Pashte

The Global Triangulation Laser Displacement Sensors Market 2026 Market Research Report is a professional and in-depth study on the current state of the Triangulation Laser Displacement Sensors . Development policies and plans are discussed as well...