Singapore-based Keppel Offshore & Marine has secured a contract worth about $800m from the State Oil Company of Azerbaijan Republic’s (SOCAR) subsidiary Caspian Drilling Company to construct a semisubmersible drilling rig.

The contract came through its subsidiaries Caspian Rigbuilders and Caspian Shipyard Company (CSC).

Under the contract, which also includes owner furnished equipment, Keppel will build the rig based on FELS’ proprietary DSSTM 38M design, which has been specially designed to meet the Caspian Sea’s tough environment conditions.

The DSSTM 38M design, which has been jointly developed and owned by Keppel’s Deepwater Technology Group and Marine Structure Consultants, is an advanced design of the DSSTM 38 rigs that are currently operating in Brazil.

Scheduled to be delivered in the fourth quarter of 2016, the DSSTM 38M will be designed for a drilling depth of up to 40,000ft and operations in 1000m water depth.

The rig will be equipped with an 800m self-contained eight point mooring system to meet high wind speeds in the tough Caspian environment, while the pontoons for the rig will enable transit in channels with shallow draft of less than seven metres.