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World's largest jackup rig Keppel's XLE-2. Image courtesy of Keppel FELS.

The world’s largest jackup rig, the Keppel XLE-2, was delivered Thursday to Denmark-based drilling services company Maersk Drilling on budget and seven days ahead of schedule.

The XLE-2 was built by Singapore-based shipyard Keppel FELS Limited and is owned by Maesrk.

The rig cost about $650 million.

The rig is a XL Enhanced (XLE) harsh environment jackup rig that is customized for year round operations in the North Sea.

The XLE-2 has a leg length of 678ft (206.8m) and is designed for operations in water depths up to 492ft (150m).

It has been chartered for five years by Norway-based exploration and development company Det norske oljeselskap ASA for deployment in the Ivar Aasen project in the northern North Sea.

The rig will be officially named at a ceremony in Norway in October 2014.

Keppel and Maersk are collaborating on a total of three XLE rigs.

Keppel already delivered the first rig, named Intrepid, to Maersk and the third rig is expected to be delivered next year.

France’s Total has a four year contract for the Intrepid worth $550 million for a project in the North Sea.

The third rig has been contracted by Norway’s Statoil for its Gina Krog field off the coast of Norway.