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Keppel lines up number six for ENSCO

Keppel lines up number six for ENSCO

Singapore: Keppel FELS has landed yet another deepwater rig contract from Dallas-based ENSCO International Inc, in a deal worth $537m. The latest order, for the semisubmersible ENSCO 8500, is the sixth in a series and follows less than a month since the US driller inked the fifth such contract. The new unit is due for delivery during the first six months of 2012.

Commenting on the latest deal, Daniel W Rabun, chairman, president and CEO of ENSCO, noted the importance of deepwater developments for the company. "We estimate that out deepwater fleet, including the 8500 Series semis, will contribute approximately 30% of out total revenue when in operation," he said.

"We are pleased that Keppel FELS is constructing all six of our new semis," he continued. "We are benefiting from synergies associated with building all these rigs at one yard, and with a partner with whom we have a strong working relationship."

The latest order comes against a backdrop of increasingly frenetic activity in the offshore sector. Record oil prices and the seemingly insatiable appetites of energy-hungry Asian economies are generating fresh demand for plant across the entire offshore sector.   [3/6/08]