Keppel FELS Ltd., a subsidiary of Keppel Offshore & Marine Ltd., has secured a contract from UMW Drilling 8 (L) Ltd., a wholly owned subsidiary of UMW Oil & Gas Corp. Sdn. Bhd., to build a KFELS B Class jackup rig worth $218 million.

The rig will be the third KFELS B Class jackup rig for UMW Oil & Gas and is scheduled for delivery in 3Q 2015. The first jackup, UMW NAGA 4, was delivered in February 2013 and the second, UMW NAGA 5, is expected to be completed by 2Q 2014.

UMW NAGA 4 is currently deployed in offshore Malaysia, and UMW NAGA 5 has secured a charter from Nido Petroleum Philippines.

Developed by Keppel's technology arms, Offshore Technology Development and Bennett Offshore, the new KFELS B Class jackup rig will be able to operate in water depths of 400 ft (122 m), and in drilling depths of 30,000 ft (9,144 m).