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Keppel Corp: Unit Gets Contract Worth US$150 Million From Diamond Offshore

SINGAPORE -(Dow Jones)- Keppel Corp. Ltd. (BN4.SG) Monday said its unit has secured a contract worth US$150 million from Diamond Offshore Drilling Inc. (DO) to build a semi submersible rig from an existing vessel. Keppel AmFELS LLC, a wholly-owned U.S. subsidiary of Keppel Offshore & Marine Ltd., will construct and upgrade the moored semisubmersible rig with delivery scheduled for the third quarter of 2013, Keppel said in a statement to the Singapore Exchange. The rig, to be named 'Ocean Onyx', will be constructed from an existing hull from a Diamond Offshore cold stacked unit, which previously operated as the 'Ocean Voyager'. Keppel AmFELS' scope of work on the Ocean Onyx includes the reconstruction of the rig, installation of equipment such as a drilling package, and installation of sponsons to the pontoons to enhance the stability of the rig in deep water, according to the company statement. -By Gaurav Raghuvanshi; Dow Jones Newswires; +65 64154 154; gaurav.raghuvanshi@dowjones.com

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