Singapore\'s Keppel Corp Ltd , the world\'s largest oil rig builder, said on Tuesday it had signed a contract with Ukraine state energy firm Naftogaz to build two semi-submersible drilling rigs worth about US$1.2 billion.
\"The addition of these rigs to our fleet is part of our extensive programme to modernise our offshore exploration and production facilities,\" Evgen Bakulin, chairman of Naftogaz, said in a statement issued by Keppel.
\"This will allows us to reach a new level of shelf development in the Black and Azov Seas, rapidly boost our oil and gas production and reduce our imports of natural gas.\" Ukraine imports about a half its gas from Russia at a price that has risen steadily for the past few years and is expected to reach US$432 per thousand cubic metres in the fourth quarter. Kiev bought gas at US$400 in the fourth quarter last year.
\"The addition of these rigs to our fleet is part of our extensive programme to modernise our offshore exploration and production facilities,\" Evgen Bakulin, chairman of Naftogaz, said in a statement issued by Keppel.
\"This will allows us to reach a new level of shelf development in the Black and Azov Seas, rapidly boost our oil and gas production and reduce our imports of natural gas.\" Ukraine imports about a half its gas from Russia at a price that has risen steadily for the past few years and is expected to reach US$432 per thousand cubic metres in the fourth quarter. Kiev bought gas at US$400 in the fourth quarter last year.