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BP Spill May Be ‘Opportunity in Disguise’ for Oil-Rig Makers

Heightened U.S. scrutiny of offshore drilling after the BP Plc spill, the worst in the nation’s history, may spur oil companies to replace aging rigs with new platforms made in South Korea and Singapore.

Rig-makers Samsung Heavy Industries Co. and Keppel Corp. stand to benefit from drillers buying $300 million-plus semi-submersible rigs, which operate in waters as deep as 10,000 feet. About 57 percent of current units are more than 20 years old, according to Merrill Lynch.