Mermaid Maritime says 49%-owned affiliate Asia Offshore Drilling has placed orders with Keppel FELS to build two KFELS B Class jack‐up rigs worth US$360 million ($472.4 million).

The two jack‐up rigs are scheduled for delivery in 2012 and 2013 respectively.

As part of the agreement, Keppel FELS has given AOD the option of building another two high‐specification jack‐up rigs at its yard.

If exercised, the options for the additional two rigs will bring the total contract value to above US$720 million.