Keppel FELS Scores Semisub Contract from Floatel

Singapore's Keppel Corporation said Tuesday that Keppel FELS has finalized a $315 million contract with Floatel International to build an accommodation semisubmersible.

The two companies had signed a letter of intent in March for the semisubmersible.

The semisubmersible, built based on the Floatel Superior design, will have a large payload and deck area in combination with dual cranes, making it ideal for supporting new construction, maintenance activities or for decommissioning projects of offshore oil and gas installations. It will also be able to accommodate 440 persons in single-bed cabins

This is Floatel's fourth accomodation semisubmersible with Keppel FELS after the delivery of Floatel Superior and Floatel Reliance in 2010 and the order of Floatel Victory in 2011. 

Maybank Kim Eng's Analyst Yeak Chee Keong told Rigzone on Tuesday that the announcement is not expected to impact Keppel's year-end earnings projection as the project has already been factored into his 2H 2012 forecast. 



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