Seatrium To Complete Four Offshore Drilling Rigs For Keppel In S$500 Million Deal
The four rigs remained unfinished legacy assets after Keppel's offshore and marine business combined with Sembcorp Marine to form Seatrium in 2023.
Singapore-based Seatrium will complete four unfinished offshore drilling rigs owned by Keppel subsidiary RigCo under a deal worth more than S$500 million ($390 million), as the offshore drilling market shows signs of improving demand for advanced rigs.
The work covers a seventh-generation drillship, a harsh-environment jack-up rig and two mid-water semisubmersibles designed for operations in the challenging conditions of Northwest Europe. It will be carried out under an existing master services agreement between Seatrium and RigCo.
The drillship is scheduled for delivery in 2027, while the jack-up rig is expected to be delivered in 2028. Plans for completing the two semisubmersibles are still under assessment.
RigCo will finance the work using its existing cash reserves, according to the companies.
This story was originally published by Marine Insight. Read the full story at Marine Insight →
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