Keppel FELS Dives into LOI with Mermaid for Jackups

Keppel FELS has entered into a Letter of Intent with Mermaid Maritime Public to build two KFELS B Class jackup rigs worth US $360 million. In addition to these, Mermaid will have options to build another two similar jackup units.

In the event that the proposed deal proceeds, the first two jackup rigs will be scheduled for delivery on December 1, 2012 and 1 March 2013 respectively. If exercised, the options for the additional two rigs are expected to bring the total contract value to above US $700 million.

Further announcement will be made in due course if and when the rig construction and option contracts are executed.

The Letter of Intent with Mermaid is not expected to have any material impact on the net tangible assets or the earnings per share of Keppel Corporation Limited for the current financial year.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit