Keppel bags Clearwater jack-up rigs

Singapore: Keppel FELS is to build a pair of jack-up rigs for Clearwater Capital Partners for $360m. The KFELS B design rigs are to be delivered in the first and second quarters of 2013. Clearwater has options for two more rigs bringing the total contract value to $730m.

"Confidence is rapidly returning to the offshore industry and we expect a fundamental recovery of the sector. There is a clear bifurcation in the jack-up market with oil companies increasingly focused on new, high specification rigs for their projects," said Rob Petty, managing partner of Clearwater. [24/01/11]