SINGAPORE (May 16): Keppel Offshore & Marine’s (Keppel O&M) wholly-owned subsidiary, Keppel FELS, has signed a master agreement to sell five jackup rigs to Borr Drilling for a total value of US$745 million ($993 million).

These are existing jackup rigs which are currently being built by Keppel FELS to the KFELS B class designs.

The total price of the five rigs excludes any down payments made by the respective original owners.

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