Keppel Corp, the world's largest oil rig builder, said on Tuesday it had signed a contract with Ukraine state energy firm Naftogaz to build two semi-submersible drilling rigs worth about US$1.2 billion ($1.5 billion).
“The addition of these rigs to our fleet is part of our extensive programme to modernise our offshore exploration and production facilities,” Evgen Bakulin, Chairman of Naftogaz, said in a statement issued by Keppel.
“This will allows us to reach a new level of shelf development in the Black and Azov Seas, rapidly boost our oil and gas production and reduce our imports of natural gas.”
Ukraine imports about a half its gas from Russia at a price that has risen steadily for the past few years and is expected to reach US$432 per thousand cubic metres in the fourth quarter. Kiev bought gas at US$400 in the fourth quarter last year.
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