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.

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Offshore Energy Today Staff, January 25, 2013