Keppel O&M clinches newbuild contracts

Keppel Offshore & Marine has secured a newbuild contract through its wholly-owned subsidiaries Keppel Verolme in the Netherlands.

Keppel Offshore & Marine has secured a newbuild contract through its wholly-owned subsidiaries Keppel Verolme in the Netherlands.

Perenco UK Ltd., a petroleum, exploration, and production company, has contracted Keppel Verolme to design and construct a Mobile Offshore Application Barge (MOAB).

The self-installing platform will be used as an unmanned gas compressor platform adjacent and connected with a bridge link to Perenco's existing production platform at the Trent field development on the UK North Sea continental shelf.

The MOAB is slated for installation at its offshore location in August 2005.

The North Sea is Europe's main oil and natural gas producing area and its large natural gas reserves make it a key supplier of European gas. To curb rising dependence on hydrocarbon imports, the UK government has implemented new policies to encourage the entry of independents to improve production in this region. Tapping the opportunities emerging from the broadening scope for exploration and production activities, Keppel Verolme has since 2003, embarked on a mission to expand beyond its core business of floating units and vessels conversions, repairs, and modifications.

"The deal marks Keppel Verolme's successful re-entry into the offshore new construction market," Tong Chong Heong, managing director/COO of Keppel O&M. "With the entry of more independent oil companies in the North Sea, there is an increase in E&P activities as well de-commissioning programs. Keppel Verolme, with its experience, is well placed to meet the growing needs of this region."

Other projects being carried out at Keppel AmFELS, include construction of living quarters for Pemex repairs onOcean Warwick, ENSCO 99 life extension and refurbishment project and modification of the SBX platform.

12/20/04

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