In a recent report, CGS-CIMB analyst Lim Siew Khee suspects the newbuild involved could be SKD Kinabalu, the semi-tender rig belonging to Sapura Energy. In its FY14 earnings announcement, management mentioned it won two semis contract without revealing the customer’s name as the yard was bound by a confidentiality agreement.
SINGAPORE (Nov 21): CGS-CIMB Securities is keeping Keppel Corp at “buy” despite Keppel FELS having entered into a settlement agreement with an unnamed oil and gas services company to terminate a $165 million contract for integration works done on a rig.
According to Keppel, the project was said to be 30% completed and Keppel FELS has been fully compensated.
