Keppel wins contracts totaling $197 million

Keppel Offshore & Marine Ltd. (Keppel O&M), through Keppel Shipyard and Keppel FELS Brasil, has secured three contracts totaling $197 million.

Offshore staff

SINGAPORE -- Keppel Offshore & Marine Ltd. (Keppel O&M), through Keppel Shipyard and Keppel FELS Brasil, has secured three contracts totaling $197 million.

The first two projects, secured by Keppel Shipyard from repeat customers, are for the construction of a derrick lay barge and the modification of an FPSO. The third project is awarded by a new customer, Noble Drilling (Nederland) B.V., to Keppel FELS Brasil, through BrasFELS, for the completion of a deep drilling semisubmersible.

Bumi Armada Berhad has contracted Keppel Shipyard for the construction of a derrick lay barge for pipe laying operations in waters of up to 100 m (328 ft). It will be built in two separate hull strips and mechanically completed in Keppel Shipyard before being transported through the narrow Volga-Don River Canal System to a shipyard in the Caspian Sea for the joining of the vessel. The hull strips are expected to cross the canal by November.

The second project is from Single Buoy Moorings Inc. (SBM) for the modification of FPSOCapixaba, which was a fast-track conversion carried out by Keppel Shipyard in 2006. The new work scope includes the installation of four new modules and the associated integration plus modification of the existing topsides and turret.

The FPSO is currently deployed in the Golfinho field, Brazil, and is expected to arrive at Keppel Shipyard in August. FPSOCapixaba will be modified and upgraded for operation in the Cachalote field in offshore Brazil. The vessel is expected to be back in operation in Brazil in early 2010.

Keppel Shipyard's projects with SBM currently also include the major conversion of FPSOP-57 and FPSO Okha and the construction of FPSO Skarv's internal turret for SBM.

BrasFELS has secured a contract from Noble Drilling (Nederland) B.V. for the completion of the ultra-deepwater semisubmersibleNoble Dave Beard, which is scheduled to arrive in Brazil at the end of the month.

TheNoble Dave Beardis a dynamically-positioned (DP-2) semisubmersible drilling unit designed to operate in water depths up to 10,000 ft (3,048 m), with a drilling depth of up to 35,000 ft (10,668 m). The scope of work to be performed by Keppel FELS Brasil includes the mechanical completion of the vessel, as well as assisting in the commissioning and installation of customer specified equipment. Upon its expected completion in the fourth quarter, the semi will be chartered to Petrobras for work offshore Brazil.

03/30/2009

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