KepCorp has won a $50m contract for the modification of the FPSO vessel OSX-1. Work is expected to start in 3Q and vessel is scheduled to be delivered in 2Q11. This brings its total orders bagged this yr to $2.24bn, of which $1.66bn was secured in the 1Q10. All eyes are still awaiting the results of the 28-rig Petrobras tender for which KepCorp is participating in bids for 7 drillships & 2 semisubs (under package 1) & 4 drillships & 2 semisubs (under package 2).
Stock is attempting to break above 50-day MA with overhead resistance at $9 level.
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