Discovery Offshore S.A. announced yesterday an agreement with Keppel FELS to extend the exercise date on the first rig construction option to late October 2011.
If the Company elects to exercise the first option, rig delivery will be scheduled for the third quarter of 2014, an extension of two months from the timeline contemplated in the original option term. With this agreement, Discovery Offshore possesses two independent rig construction options, both of which have final exercise dates in late October 2011.
Discovery Offshore S.A. is a Luxembourg-based public limited liability company incorporated on 12 January 2011 for the purpose of owning new ultra high specification jackup drilling rigs. The Company’s main assets are two Keppel FELS Super A high specification harsh environment jackup rigs currently under construction, with delivery scheduled for the second quarter and fourth quarter of 2013, respectively.
[mappress] Source: Discovery Offshore, August 23, 2011; Image: Kepcorp