This follows a record S$10 billion worth of contracts which Keppel O&M secured in 2011.
Keppel O&M along with Sembcorp Marine are big players in the offshore rig building industry, accounting for some 70 per cent of the global market share for jack-up rigs.
But the Singapore rigbuilders are likely to face stiffer competition from Korean and Chinese companies.
Analysts said some Chinese shipbuilders are offering similar products at a 20 per cent discount.
For example, earlier this month, Yangzijiang secured a US$170 million order for a jack-up rig, while a similar contract at Keppel O&M cost US$205 million.
According to the China Association of the National Shipbuilding Industry, China hopes to capture 20 per cent of the global market for rigs, production facilities and offshore products by 2015.But some analysts said Singapore rig builders are not likely to lose their competitive edge anytime soon.
Analysts expect the demand for rigs to come under some pressure should the US decide to export a substantial amount of shale gas.
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