Keppel FELS has managed to resell a jack-up rig after the original buyer, Parden Holding, failed to pay up and take delivery of a rig ordered back in August 2013.
361 Projects, which is linked to the guarantor of the rig, has purchased the rig, which will now deliver towards the end of this year. Parden had only paid a 20% deposit on the KFELS B class rig when it decided to not pursue payment further.