Keppel Offshore & Marine, a wholly-owned subsidiary of Keppel FELS, has been awarded a contract by Fecon International to build three KFELS B Class jackup rigs that worth about $650m.

Within 2H 2016, the three rigs are planned to be delivered to Fecon.

The KFELS B Class rig has the potential to operate in water depths of around 400ft and can drill up to 30,000ft deep, according to the company.

The jackup rig, which can accommodate around 150 persons, includes a full 15,000 psi BOP system and 75ft cantilever outreach.

Fecon International representative A.P. Dobrov said the International Energy Agency estimates oil demand in the world to increase by 1.3 million barrels per day in 2014.

"There is a need for more high specification jackup rigs as the replacement cycle continues and we believe the robust KFELS B Class rig will be the most efficient rig in the greatest number of locations," Dobrov added.