Singapore: Keppel FELS has bagged a $180m jack-up rig newbuilding contract from Standard Drilling. Standard Drilling is a subsidiary of Norwegian investment company Ferncliff TIH AS Group and has options for two further rigs at Keppel bringing the total contract value to over $550m. The first rig is due to the second half of 2012. "We are seeing activities and opportunities in the jack-up market recovering quickly and are positive that this demand for newer, safer, high-specification jack-ups will be sustained, given the growing need worldwide for premium units with capabilities to operate safely in more challenging locations," said Martin Nes, ceo of Ferncliff. [26/11/10]
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