Keppel Offshore & Marine Ltd, through its subsidiary Fernvale Pte. Ltd, has secured a contract worth USD 809 million from Urca Drilling B.V., a subsidiary of Sete Brasil Participações S.A., for the design and construction of a semisubmersible (semi) drilling rig based on Keppel’s proprietary DSSTM 38E design.

The DSSTM 38E is an enhancement of Keppel’s proven fifth generation deepwater solution, the DSSTM 38. With improved capability and operability, it is designed to meet the stringent requirements of the deepwater “Golden Triangle” region, comprising Brazil, Africa and the Gulf of Mexico. Scheduled for delivery in 4Q 2015, the rig is intended to support the exploration of Brazil’s estimated 50 billion barrels of deep-sea oil and gas reserves.