Sinvest To Buy Rig From Keppel FELS For $145M

Norwegian oil and gas investment company Sinvest ASA (SIN.OS) Thursday said it has launched a new bond loan and that its unit Deep Drilling Invest has executed an agreement to buy a Jack-up Rig from Keppel FELS Ltd. in Singapore for $145 million.

The company said the jack-up ordered will be capable of operation in water depths of 350 feet and drilling down to 35,000 feet. The KFELS Super B Class is a significantly upgraded version of the well proven MOD V B Class, where special consideration have been given to enable this Rig to drill wells effectively to targets beyond what can be achieved with existing rigs.

Yahoo! Singapore