Keppel Shipyard Ltd (Keppel Shipyard) has secured two Floating Production Storage and Offloading (FPSO) conversion contracts from repeat customers worth a combined value of S$190 million. These contracts are from SBM Offshore N.V. (SBM Offshore) and M3nergy Offshore Limited (M3nergy Offshore).
Mr Michael Chia, Managing Director (Marine & Technology), Keppel
Offshore & Marine (Keppel O&M), said, "The award of these
contracts from our repeat customers affirms their confidence in us.
These contracts from experienced FPSO fleet owners and operators SBM
Offshore and M3nergy bear testament to our commitment to quality
conversion and upgrading services.
"Over the years, Keppel Shipyard has worked closely with customers
worldwide to bring to the market a range of offshore production
solutions. We will continue to ensure the success of our latest FPSO
projects to value-add to the global offshore production market."
Keppel Shipyard's new conversion project for SBM Offshore is for the
FPSO that will host the Stones ultra deepwater development by Shell in
the Gulf of Mexico. Once installed, the vessel will be the deepest
production facility in the world, as well as the deepest FPSO with a
disconnectable buoy (Buoyant Turret Mooring or BTM).
The yard's work scope for the Stones project includes refurbishment
and life extension works; upgrading of living quarters; fabrication and
installation of the internal disconnectable buoy BTM system and topside
module supports; as well as the installation and integration of topside
The FPSO design has a processing facility capacity of 60,000 barrels
of oil per day (bopd) and 15 mmscfd of gas treatment and export. The
converted FPSO will be able to store 800,000 barrels of crude oil and
its total topsides weight will reach 7,000 tonnes.
Including the Stones FPSO, Keppel Shipyard has undertaken 20 major projects for SBM Offshore since 2000.
Meanwhile, Keppel Shipyard's second contract is from M3nergy Offshore to convert an FPSO for the Bukit Tua Field.
For this project, Keppel Shipyard will undertake refurbishment and
life extension works; fabrication and installation of new structures,
piping systems, spread-mooring system; upgrading of the living quarters;
as well as the installation and integration of the topsides process
Scheduled for completion in the second quarter of 2014, the FPSO has
been chartered by PC Ketapang II Ltd for its operations in the Bukit Tua
field, which is 35 kilometres north of Madura Island, offshore
The FPSO conversion contract for the Bukit Tua field in Ketapang
Block, Indonesia, was awarded to the consortium PT Trasamudra Usaha
Sejahtera - M3nergy Offshore Ltd. M3nergy Offshore is a subsidiary of
The FPSO will have a production capacity of up to 25,000 barrels per
day of liquids and a storage capacity of up to 630,000 barrels.
above contracts are not expected to have any material impact on the net
tangible assets and earnings per share of Keppel Corporation Limited
for the current financial year.
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