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Keppel wins $74.7 million FPSO conversion contract

Keppel wins $74.7 million FPSO conversion contract

Keppel Offshore & Marine Ltd (Keppel O&M), Singapore's offshore rig and vessel constructor, has won a contract for the manufacturing and integration work on a floating output storage and offloading vessel from a repeat customer worth around S$100 million.

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On Thursday, Keppel O&M said that the contract had been won by its wholly-owned subsidiary, Keppel Shipyard.

The work scope of Keppel Shipyard, scheduled for delivery in the fourth quarter of 2022, includes the manufacture, installation and integration of topside modules, riser balconies and spread mooring support systems, as well as support for pre-commissioning and commissioning work for the client.

Keppel Shipyard will begin pre-fabrication work on the top-side components in the first quarter of next year before the FPSO's arrival at the yard.

“As the world’s leader in FPSO conversion and integration projects, we have built up strong capabilities to add value to our customers’ projects and efficiently deliver high-quality FPSOs, while contributing to the circular economy with our conversion solutions. With the challenges posed by Covid-19, the health and safety of our workforce is paramount. We have put in place measures to safeguard our people and maintain our operations to ensure that each project entrusted to us is delivered as planned," stated Chor How Jat, managing director of conversions and repairs at Keppel O&M.

The FPSO will be able to generate 220,000 barrels of oil per day when completed and have a related capacity for gas treatment of 400 million cubic feet per day.

The above contract is not expected to have a significant effect on Keppel Corporation's net tangible assets or earnings per share for the current financial year according to the firm.

Maritime Business World 

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