SINGAPORE (June 1): Keppel Corporation says subsidiary Keppel FELS has entered into an agreement with Borr Drilling to novate the construction contracts of the five jackup rigs currently being built by Keppel FELS for Transocean to Borr Drilling.

(See: Keppel FELS says contracts for five jackup rigs for Transocean to be novated to Borr Drilling)

Under the terms of the agreements, Borr Drilling will take over the contracts of the five jackup rigs from Transocean and undertake the remaining payment instalments to Keppel FELS.

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