Keppel FELS has lost its $1.2billion contract with Ukrainian state energy firm Naftogaz to build two semi-submersible rigs, apparently due to certain conditions within the contract’s timeline not being met.
The cancellation comes less than four months since Keppel FELS announced the order to build a pair of DSS 38D rigs.
“Keppel will continue to seek opportunities where we can support Naftogaz in their E&P activities,” said Keppel FELS in a statement.
Besides Keppel FELS, Rigas Kugu Buvetava of Latvia, Belize-based Magic Worldwide LTD, and Aida Holding of Belize submitted tenders.