Keppel has secured contracts to build three high-spec KFELS B class jack-ups worth US$650m from a new customer, Fecon International Corp. Backed by an experienced industrial entrepreneur, A.P. Dobrov, Fecon is a new player to the offshore oil & gas industry and aims to penetrate the African, Middle Eastern and Southeast Asian markets. Also, Fecon’s leadership team has extensive connections in Russia. The rigs are scheduled for delivery in 2H16.

Keppel has secured S$1.1bn of orders YTD. With yard slots in 2015 already filled, the group is now focusing on deliveries for 2016. Underpinned by jack-up strength, coupled with existing options worth S$2.7bn from Ensco, Transocean and Pemex, as well as fruition of the Golar FLNG, the ice-class jack-up for Conoco Phillips and the sale of the proprietary Can Do drillship, 2014 could be another record year of order intake (S$10bn).

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Keppel Corp is one of the rare Singapore …