3 important facts you need to know about KepCorp's latest order win

Its fifth order from repeat Mexican client since 2002.

According to DBS, Keppel Corp, through its US-based wholly-owned subsidiary - Keppel AmFELS LLC, has won a contract from Perforadora Central to build a KFELS B Class jackup rig worth US$240m, including owner furnished equipment.

Here's more from DBS:

Scheduled for delivery in 4Q 2015, the jackup rig is intended for operations in offshore Mexico. Built to Keppel’s well established KFELS B Class design, the rig will be able to operate in water depths of up to 400 feet, drill to depths of 30,000 feet with accommodation for 126 persons and a BOP system of 18-3/4 x 15,000 PSI.

It is worth noting that:
(i) The latest contract is the fifth order from repeat Mexican customer, Perforadora Central, since 2002;

(ii) The first order was built according to the premium KFELS B Class design, but the subsequent three were based on the LeTourneau Super 116E design. We see Perforadora’s switch back to KFELS B Class as a strong affirmation of Keppel’s proprietary design;

(iii) Keppel O&M has emerged to be the leading rig provider to the Mexican market, with a total of 20 projects delivered or on order for Mexico, of which 15 are based on Keppel's proprietary KFELS B Class design.

This brings Keppel Corp’s YTD order wins to S$5.3bn, making up 89% of our FY13 assumption of S$6bn. If the orders for six jackup rigs (part of the MOU with PEMEX to joinly develop a yard facility in Mexico) are effective before the year end, these contracts could add c.S$1.6bn, blowing past our order win assumption.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia