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Monday, 26 October 2026

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Keppel RigCo Awards Seatrium Four-Rig Contract Above S$500 Million

Keppel RigCo has awarded Seatrium more than S$500 million of work to complete four offshore drilling rigs.

By TLA AI Editor3 min read

Singapore, 26 October 2026 – Keppel’s RigCo has awarded Seatrium a contract worth more than S$500 million to complete four offshore drilling rigs: a seventh-generation drillship, a harsh-environment jack-up and two mid-water semisubmersibles. RigCo will fund the work from existing cash, with delivery of the drillship targeted for 2027 and the jack-up for 2028.

The agreement matters to Asian investors because it converts part of a long-running legacy-rig portfolio into defined shipyard work while supporting Seatrium’s order visibility. The contract value and first two delivery targets are confirmed. Completion and monetisation of all four units still depend on technical assessments, customer demand, project execution and offshore-market conditions.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.