Keppel Working to Complete 22 Newbuilds in 2013

Keppel Working to Complete 22 Newbuilds in 2013

Singapore’s largest offshore rig builder, Keppel Corporation, has announced that in 2013 it will be completing a record of 22 newbuild units.

The company says it aims to deliver the newbuilds on time, on budget and safely to their customers.

For the whole of 2012, Keppel Offshore & Marine secured S$10 billion in contracts from customers across Brazil, the Caspian Sea and Mexico. This brings the company’s net orderbook to $12.8 billion as at end December 2012, with visibility into 2019.

As for the new contracts, the company expects to benefit from the world’s swelling demand for energy which drives E&P into new frontiers which are deeper and harsher, thus increasing the demand for more new harsh environment deepwater drilling units.

Keppel also reported that its 2012 net profit improved 28% to S$1,914 million, compared to FY 2011’s S$1,491 million.

Offshore Energy Today Staff, January 25, 2013

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