Seatrium and Keppel agree to complete four offshore drilling rigs

Seatrium and Keppel’s wholly owned subsidiary, RigCo, have agreed to complete four offshore drilling rigs. The construction work has an estimated total contract value of more than S$500 million.

The companies announced the agreement on October 26, 2026. They will carry out the work under an existing master services arrangement. RigCo owns all four rigs, which remain unfinished.

The units include a seventh-generation drillship, a harsh-environment jackup and two mid-water semisubmersibles. The latter are suitable for demanding offshore conditions, including those in Northwest Europe.

The companies expect to deliver the drillship in 2027 and the jackup in 2028. However, they are still assessing construction plans for the two semisubmersibles. RigCo will fund the work using its existing cash reserves.

This story was originally published by Container News. Read the full story at Container News →