Maybank Kim Eng’s investment analyst Yeak Chee Keong noted in an offshore sector update in November that Keppel O&M will continue to enjoy pricing power in the current competitive offshore environment, given the tightening rig market and the company’s reputation as a premium and reliable yard.
"We are seeing more enquires from Mexico for new rigs and we believe that our FELS B Class jackup design is well suited to meet the requirements of the Mexican market," Keppel O&M's and Keppel FEL's Managing Director Wong Kok Seng said in the statement.
Last week, Sembcorp Marine – the second largest rig builder in Singapore – secured two turnkey contracts, worth $434 million, for the construction of two jackup rigs from Mexico’s Integradora de Servicios Petroleros Oro Negro. The latter also took delivery of the first of two KELS B-Class jackup rigs from Keppel FELS.