Singapore’s Keppel Offshore & Marine has secured charters worth up to a combined S$155 million (US$112.1 million) for two more of its jack-ups with ADES Saudi for drilling offshore Saudi Arabia.

The bareboat charters, for five-year terms, are expected to start in the first half of 2023. The expected S$155 million revenue includes the modification work required to prepare the rigs for deployment.

The jack-ups are the Cantarell III and Cantarell IV, which were under bareboat charters with subsidiaries of Mexico’s Grupo R.