Keppel FELS Ltd, a unit of Keppel Corp, has secured a contract with Diamond Offshore Drilling Inc to upgrade a semi-submersible rig for 102 mln usd.
In a statement, Keppel FELS said the rig is expected to be operationally ready in fourth quarter of 2008.
When completed, the rig, named Ocean Monarch, will be able to operate in up to 10,000 feet of water while moored. It will be one of the most modern of Diamond's fleet of upgraded semi-submersible rigs.
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