Keppel Corp

Keppel Corp: Ukraine firm, Naftogaz says it plans to order a semi-submersible rig from Keppel Fels. The semi-sub would be capable of operating in water depths of up to 1,000m, which would help develop hitherto unexplored offshore gas fields and edge the gas-rich country closer to its 2020 goal of energy independence. Ukraine has 1.2 tr cubic metres of proven natural gas reserves. However, it relies on Russia for two-thirds of its gas supply, ~32b cubic metres a year. Naftogaz comments were made during the delivery of its second KFELS B Class jack-up rig, which will probably be deployed in the Black Sea by the end of the yr. While there is no financial impact yet, this underscores the strong demand for rigs still, which bodes well for Spore rig builders’ order books.