Keppel bags US$820m order wins from Mexican company

Four jackup rigs will be delivered by 2015.

According to OCBC Investment Research, Keppel Corporation (KEP) announced that it has secured contracts to build four jackup rigs worth US$820m for Mexican drilling company, Grupo R.

The rigs will be built to KEP’s proprietary KFELS B Class design and are scheduled for delivery progressively from 2Q15 to 4Q15.

Here's more:

Recall that KEP also secured contracts to build two similar rigs for PEMEX in Dec last year for US$420m. As mentioned in our earlier notes, the strong demand coming from Mexico is within our expectations, as PEMEX plans annual capital expenditures of ~US$30b till 2019 to stem the country’s declining oil production.

We see KEP as one of the beneficiaries of these developments. The group has secured new O&M orders worth about S$1.6b YTD, accounting for ~32% of our full year estimate.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia