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Mexico : $300m order in Mexico secured by Keppel
Publish Date : 15-Oct-2013
A contract in Mexico to build a jack-up rig worth US$240 million ($300.2 million) is secured by a United States-based unit of Keppel Offshore & Marine.
The rig, ordered by a unit of Mexican firm Perforadora Central, is slated to be delivered in the fourth quarter of 2015 and is planned for operations off the Mexico coast.
In a statement, Keppel said that a total of 13 KFELS B Class jack-up rigs have now been ordered for the Mexican market since 2010.
Keppel AmFels chairman Chow Yew Yuen mentioned that this will be the fifth jack-up contract that the unit - Keppel AmFels - has undertaken for Perforadora Central since 2002.
"We have steadily built up a strong partnership with them and are pleased that our valued customer is once again entrusting us with a newbuild order for the Mexican market."
In April, Keppel AmFels delivered a jack-up to Perforadora Central and is heading in the right direction to complete another rig for the Mexican firm by the first quarter of next year.
A Perforadora Central spokesman said that there is strong demand from Pemex, the Mexican state-owned petroleum giant, for high-quality rigs and the KFELS B Class is a "top-class jack-up" with a proven track record operating in Mexico.
The spokesman added, "Our current KFELS B Class jack-up in operation, the Tonala, has been performing outstandingly for Pemex and we are confident that this next jack-up will be just as successfulâ€. "It is an important addition to our portfolio of premium rigs as we expand our presence to be a leading provider of drilling solutions in Mexico."
Keppel O&M is the important rig supplier to the Mexican market, with a total of 20 projects delivered or on order, counting the new contract. 15 of these are for the firm's proprietary KFELS B Class design, which was developed by Keppel's Offshore Technology Development unit.
The firm said that the latest contract is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation for this financial year.
