Here's a glimpse of big-time jackup orders for Singapore rig moguls

Orderbooks likely to be $1-2b fatter.

According to Barclays, the Singapore rig-builders, Keppel Corp (OW) and Sembcorp Marine (EW) could be on the verge of being awarded some large-scale jackup orders, according to Upstreamonline. Statoil (EW/Neu) could be on the verge of awarding new multi-year contracts for up to three Cat J (Gusto MSC CJ-70) jackup rigs.

On top of that, Maersk Drilling could also be on the lookout for two more Gusto MSC CJ-70 jackups, according to Upstreamonline.

Here's more from Barclays:

With both yards the only yards globally with a track record in constructing CJ-70 rigs, we believe they could be poised to benefit from any new orders. We prefer Keppel over Sembcorp Marine for its more robust margin outlook and stronger market share in the jack-up markets.

According to the same report, Statoil has nominated Jurong Shipyard (Sembcorp Marine) and Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea as its preferred yards. Noble Corp (OW/Pos), the driller in the running together with Seadrill (OW/Pos) for this award, is understood to be in discussions with both yards. Similarly, Maersk Drilling, which currently has three CJ-70s being built in Keppel, is also understood to be in discussions with the same yards.

Based on earlier orders with both yards, we estimate that the price of each rig could range between US$450-600mn. The potential award of three newbuilds could add cS$1-2bn to the order books of both companies.

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