Keppel scores multiple contracts

Keppel Offshore & Marine has secured $231 million dollars' worth of contracts through its subsidiaries for the conversion of an FSO, the construction of an internal turret, the refurbishment and outfitting of a semi-submersible multi-service vessel as well as the fabrication, installation and integration of topside process modules for an FPSO.

Offshore staff

SINGAPORE -- Keppel Offshore & Marine has secured $231 million dollars' worth of contracts through its subsidiaries for the conversion of an FSO, the construction of an internal turret, the refurbishment and outfitting of a semi-submersible multi-service vessel as well as the fabrication, installation and integration of topside process modules for an FPSO.

The first contract is for the conversion of an FSO by Keppel Shipyard for M3nergy JDA Sdn Bhd.

The scope of work includes the repair, life extension and conversion of a Panamax Tanker built in 1989, into an FSO which involves the fabrication and installation of an external turret mooring system, cargo offloading station, metering skid and helideck as well as the upgrading of accommodation, fire fighting system and communication systems.

When completed in 3Q 2009, the FSO will have capacity to store 546,000 barrels of oil with a maximum stabilized condensate production of 20,000 b/d. It will operate in the Joint Development Area (JDA) off the east coast of Peninsular Malaysia for Carigali-PTTEPI's block B-17 field development project.

The second contract by Keppel Shipyard is for the construction of an internal turret for SBM Offshore Inc, which will be supplied to their end client BP Norge AS, for its Skarv FPSO unit.

When completed, the internal turret will be the largest in the world in terms of its rated mooring loads. The Skarv FPSO will serve the Skarv Development offshore Norway.

The third contract is by Keppel Verolme BV (Keppel Verolme) for the refurbishment and outfitting works on a semisubmersible multi-service vessel for Prosafe Rigs Pte Ltd., a wholly owned subsidiary of Prosafe SE.

Scheduled to arrive in this quarter, the vessel, MSVRegalia, will undergo a refurbishment program which includes part renewal of the accommodation, entertainment, catering, office and exercise facilities. It will also have its main engines renewed, thrusters and dynamic positioning system refurbished, and hull blasted and painted.

The vessel is scheduled to be completed in 2Q 2009.

The fourth contract, for the fabrication, installation and integration of topside process modules for the FPSOP-57, has been secured by Keppel FELS Brasil from SBM Offshore.

The workscope includes fabrication and erection of topsides modules, piping, electrical equipment, instruments as well as pre-commissioning and assistance to commissioning. The modules are expected to be delivered by end-2009 with the commissioning and integration in 3Q 2010.

The upgrading and conversion of the FPSOP-57 is currently being undertaken by Keppel Shipyard for SBM Offshore and is expected to leave Keppel Shipyard in 4Q 2009 for Brazil.

Keppel Shipyard, Keppel Verolme and Keppel FELS Brasil are wholly owned subsidiaries of Keppel Corporation, through Keppel O&M, a leader in offshore rigs, ship repair and conversion and specialized shipbuilding.

11/19/2008

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