FECON Orders Three Jackups at Keppel

As well as receiving an order to build a newbuild jackup for UMW Oil & Gas, Keppel FELS Ltd in Singapore has also secured an order from Fecon International Corp to build three KFELS B Class jackups at a cost of around USD 650 million. Fecon is a new player in the offshore oil & gas industry, and is targeting the growing drilling markets in Africa, the Middle East and Southeast Asia. Additionally, Fecon has a leadership team that has extensive experience of working in Russia, and has identified offshore Russia as a strategic market with good growth opportunities. The three jackups are scheduled for delivery progressively during the second half of 2016. They will be capable of working in water depths of 400ft, and of drilling wells to a total depth of 30,000ft.