The order from Transocean for five KFELS Super B Class rigs brings the total value of newbuilding orders placed with Keppel Offshore & Marine (Keppel O&M) to SGD6.4bn ($5.15bn) this year.
The five rigs are due to be delivered between first quarter 2016 and third quarter 2017.
"Even with the stiff competition in the market, we are heartened that customers, whether new entrants or well-established ones like Transocean are choosing to build in Singapore and differentiating us for our proven rig designs, reputation for excellent project execution and having a competitive total project price,” said Wong Kok Seng, managing director (offshore) of Keppel O&M and managing director of Keppel FELS.
Singapore yards are facing increasing competition from Chinese yards looking to break into the rigbuilding sector and offering attractive payment terms to owners willing to take the risk of ordering at unproven yards in the offshore sector.
"In this industry, any delay can be costly. We understand the importance of delivering quality rigs safely and on schedule as it affects our customer's planning in deploying the rigs swiftly for a return on investment. This year, Keppel FELS has already delivered 17 rigs to the satisfaction of our customers and is on track to complete an unprecedented 20 or even 21 rigs by year-end," Wong added.
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