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Kalyakan - stock.adobe.com
Keppel O&M signed a Memorandum of Understanding (MOU) with Pemex in October 2013 to develop the joint venture yard to build jack-up rigs, and discussions on the agreement remain ongoing.
Quizzed about the status of the MOU at its third quarter results webcast tis week, Keppel O&M ceo YY Chow said that discussions were at a “very advanced stage” and the company hoped they could be completed by the first quarter of 2015.
Once the agreement is completed it would take around another 18 months for the yard to become operational.
The joint venture yard has been initially contracted to build six jack-up rigs for Pemex, to meet local content requirements.
“We can start construction of the jack-up rigs Singapore and finish them in the new yard,” Chow said.
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