Saudi Aramco seeks bids for the construction of newbuild jack-up rig. The contract is expected to be awarded by the end of this year, with delivery scheduled for 2011 to 2012. Sources said KeppelFELS and Jurong Shipyard are among the contenders for the newbuild contract. The rig will be built according to KFELS B Class design, the PPL Pacific Class 375 or one of the LeTourneau designs, but will be equipped with larger deck space than the standard jack-up, according to a source close to the development. The final value of the newbuild contract however, is likely to be lower than that for a similar unit a year ago given the falling material costs and reduced global rig demand. Steel prices have decreased by 20 percent to 30 percent, while drilling packages are also experiencing price reductions, said an analyst who prefers to remain anonymous.
