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Keppel Corporation Acquires LETOURNEAU Rig Design And Rig Kit Business For US$100 Million

Keppel Corporation’s wholly-owned subsidiary, Keppel Offshore & Marine USA, has acquired Cameron International Corporation’s offshore rigs business for US$100 million.

With the acquisition, which comprises the LETOURNEAU rig design, rig kit business and aftermarket services, Keppel will be able to offer customers the LETOURNEAU rig designs through the sale of rig kits to shipyards, or deliver ready-to-drill solutions from Keppel yards worldwide.

Another aspect of the business is the provision of aftermarket services. With the current low oil prices and slowdown in the group’s newbuild rig orders, the group aims to cater to customers who are looking at repairing and upgrading their current fleet.



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