Sembcorp Marine and Keppel, Singapore's two largest offshore rig builders, are on track to end this fiscal year with over $8bn worth of orders each.
Sembcorp Marine has so far secured $6.5bn in offshore contracts, already past its record-high of $4.6bn worth of orders in its fiscal year 2008, according to Maybank Kim Eng.
Keppel has inked $7.1bn worth of rig orders year-to-date, nearing towards its $8bn record in 2011.
Maybank forecast both the companies will be able to end off the 2012 fiscal year with $8.8bn worth of rig orders each.
Keppel’s biggest win came on August 7, when the company firmed up contracts with Sete Brasil for the design and construction of five semi-submersible drilling rigs for approximately $4.1bn. This is in addition to the contract, signed last December, in which Keppel O&M – a wholly-owned subsidiary of Keppel – agreed to deliver one semi-submersible drilling rig to Sete Brasil.
Sembcorp Marine’s largest score this year also came from Sete Brasil. The company, on August 8, secured contracts for five drillships worth approximately $4bn from Sete Brasil. This is in addition to the $793m contract signed by Sembcorp Marine on February 6, 2012, in which the company agreed to design and construct a drillship for Netherlands-based Guarapari Drilling, a subsidiary of Sete Brasil.