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Welcome to Ministry of Wealth and Gifts for your loved ones!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

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Thursday, 22 December 2011

Keppel secures US$809 Million contract from Sete Brasil for new DSSTM 38E semi

This brings Keppel Offshore & Marine’s new orders for the year-to-date to S$9.8 billion.


Singapore, 22 December 2011 - Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary Fernvale Pte. Ltd., has secured a contract worth approximately US$809 million from Urca Drilling B.V., a subsidiary of Sete Brasil Participações S.A. (Sete Brasil), for the design and construction of a semisubmersible (semi) drilling rig based on Keppel’s proprietary DSS™ 38E design.

The DSS™ 38E is an enhancement of Keppel’s proven fifth generation deepwater solution, the DSS™ 38. With improved capability and operability, it is designed to meet the stringent requirements of the deepwater “Golden Triangle” region, comprising Brazil, Africa and the Gulf of Mexico.

Scheduled for delivery in 4Q 2015, the rig is intended to support the exploration of Brazil’s estimated 50 billion barrels of deep-sea oil and gas reserves1. Brazil is currently the world’s 11th largest oil producer and is expected to be in the top five by 2020. Its national oil company, Petrobras, has plans for $224 billion in capital expenditure from 2011 to 20152.
Posted by Createwealth8888 at 17:32
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