Keppel signs jackup rig deal in Saudi Arabia

Saudi Arabia

RIYADH, November 14, 2022 – Keppel Offshore and Marine has signed five-year bareboat charter contracts with ADES Group for two jackup rigs destined for Saudi Arabia, the Singaporean marine contractor announced on Friday.

The Cantarell III and Cantarell IV jackup rigs will be renamed ADM685 and ADM686 and transported from Mexico to Saudi Arabia for modification works.

The USD 112-million deal will raise Keppel Offshore and Marine’s rigs with ADES Group to four.

The previous charters for the asset were terminated due to unremedied conflicts with Mexican energy conglomerate Grupo R.

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