Seatrium New Energy, a subsidiary of the Singapore-headquartered Seatrium Limited – formerly Sembcorp
Marine Ltd before the merger with Keppel Offshore & Marine Limited – has handed over the second of three
newbuild jack-up rigs to the UAE's ADNOC Drilling. This is in line with the drilling giant's fleet expansion strategy
to meet ADNOC's production capacity targets.

These three rigs were initially part of a series of five rigs that Keppel FELS was building for Borr Drilling. Keppel
and Borr delayed deliveries of these rigs first in June 2020 and then in January 2021, which resulted in the
deferral of the rigs' scheduled delivery to 2023. These rigs were supposed to be delivered progressively with the
first delivery in May 2023 and the final delivery in December 2023.

However, Keppel O&M entered into an amended agreement with Borr Drilling and certain of its subsidiaries in
October 2022 to, among other things, accelerate the delivery of three jack-up rigs to Borr Drilling – or a third
party to whom Borr Drilling intended to sell the rigs – between October 2022 and July 2023.

Since then, the construction contracts for the three rigs have been novated by Borr Drilling to ADNOC Drilling.
The first of three rigs was delivered to the UAE player in November 2022. Following the completion of the
business combination of Sembcorp Marine Ltd and Keppel Offshore & Marine Ltd on 28 February 2023,
Sembcorp Marine unveiled the name change to Seatrium Limited in April 2023.