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Singapore’s Keppel Offshore & Marine has inked new offers with offshore rig operator ADES for the utilisation of two extra jackups to be deployed in Saudi Arabia.
5-year bareboat contracts, which deliver the entire variety of rigs Keppel O&M has on constitution with ADES to 4, ought to begin within the first half of 2023. Keppel mentioned it expects to earn round S$155m ($111m) from the deal, together with modification works to organize them for deployment, up from S$135m it reported for the primary jackup pair.
The 2 rigs for use for these charters are the Cantarell III and Cantarell IV which had been a part of a sale and leaseback cope with Grupo R. These charters have since been terminated beneath the declare that the corporate was behind in lease funds.
The rigs, which will likely be renamed ADM685 and ADM686, are presently in Mexico and will likely be transported to Saudi Arabia for modification works earlier than commencing their charters for ADES. Keppel secured six jackup bareboat charters within the Center East this 12 months.
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