Keppel Offshore & Marine (Keppel O&M), on May 9, announced that it has entered into agreements to use two KFELS B Class rigs to be deployed in Saudi Arabia.
The agreements were signed by Keppel O&M’s wholly-owned subsidiaries, FELS Asset Co 5 Pte. Ltd and FELS Asset Co 6 Pte. Ltd.
The bareboat contracts are expected to generate revenue of about $135 million for Keppel O&M. The amount includes the modification works to prepare the rigs for deployment