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Keppel O&M enters new framework deed with Borr Drilling to accelerate delivery of three rigs and defer two others

Felicia Tan
Felicia Tan10/12/2022 07:27 PM GMT+08  • 2 min read
Keppel O&M enters new framework deed with Borr Drilling to accelerate delivery of three rigs and defer two others
Under the amended framework deed, Keppel O&M will receive more cash payments earlier. Photo: Keppel Corporation
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Keppel Offshore & Marine (Keppel O&M) has entered into an amended and restated framework deed with Borr Drilling on Oct 12.

Under the new framework deed, Keppel O&M says it will accelerate the delivery of three yet-to-be delivered jackup rigs to Borr Drilling between October 2022 and July 2023. There are five rigs that have not been delivered yet.

The five rigs form part of the identified assets that will be transferred to Rigco Holding as part of the agreements in connection with the proposed combination of Keppel O&M and Sembcorp Marine (SembMarine).

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