This is the second similar contract awarded to Keppel Shipyard by a company jointly owned by Frontier Drilling and Shell, local media reported.
The first drill-ship contract was awarded last June for delivery by the fourth quarter 2009.
The hull for the second drill-ship will be built in China and is due to arrive at Keppel Shipyard in the first quarter of next year.
Delivery is expected by the second quarter of 2010.