A US$1.2 billion deal has fallen through for Keppel Corp Ltd to
build offshore drilling rigs for Ukraine's state energy firm, Naftogaz,
the Singapore company said on Tuesday.
Keppel, the world's largest constructor of offshore oil rigs, announced on Dec. 4 that it had signed a contract with Naftogaz to build two semi-submersible drilling rigs for use in the Azov and Black seas.
"We wish to announce that the contract will not be taking effect as certain conditions within the timeline set were not met," Keppel said in a statement.
"Keppel will continue to seek opportunities where we can to support Naftogaz in their exploration and production activities." Mr Naftogaz declined to comment on the matter. - REUTERS
Keppel, the world's largest constructor of offshore oil rigs, announced on Dec. 4 that it had signed a contract with Naftogaz to build two semi-submersible drilling rigs for use in the Azov and Black seas.
"We wish to announce that the contract will not be taking effect as certain conditions within the timeline set were not met," Keppel said in a statement.
"Keppel will continue to seek opportunities where we can to support Naftogaz in their exploration and production activities." Mr Naftogaz declined to comment on the matter. - REUTERS
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