Keppel wins two repeat jackup orders from Clearwater worth $551 mil

Keppel FELS, a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), a unit of Keppel Corporation, has won a contract from an affiliate of Clearwater Capital Partners (Clearwater) to build a pair of premium KFELS B Class jackup rigs. The total cost of the project is about US$440 million ($551 million), which also includes owner furnished equipment and project management fees. The rigs are scheduled to be completed in 4Q 2015 and 1Q 2016.