GALAXY III

Santa Fe International Corporation announced that it has taken delivery of Galaxy III, a Keppel FELS MOD VI design Universe Class, heavy duty harsh environment jackup. Keppel FELS, Ltd. of Singapore completed construction of Galaxy III in less than twenty-four months. Total construction cost is $179 million. The Galaxy III is scheduled to leave Singapore on September 29th for the North Sea where the rig will commence a three year contract with BP/Amoco. The transit time from Singapore to the North Sea is expected to take approximately 50 days.
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