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Keppel O&M signs agreements worth $135 mil for utilisation of two jackup rigs

Felicia Tan
Felicia Tan5/9/2022 07:04 PM GMT+08  • 2 min read
Keppel O&M signs agreements worth $135 mil for utilisation of two jackup rigs
The two rigs will be chartered by ADES Saudi Limited Company for a period of five years commencing in 4QFY2022. Photo: The Edge Singapore
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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

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