Analysts: Keppel O&M Can Deliver $4.4B Orders in 2013

Industry watchers are optimistic about Keppel Offshore & Marine's (Keppel O&M) prospects for this year, with several analysts noting that the company could be well on its way to deliver above its order guideline for this financial year.

"Management hopes to clinch $2.4 billion to $4 billion (SGD 3 billion to 5 billion) worth is orders this year, which we think is conservative. In the last financial year, ended Dec. 31 2012, Keppel O&M landed a non-Brazilian order of around $4 billion (SGD 5 billion), which included a letter of intent for two semisubs. We believe that for this year, our target [for Keppel O&M] to realize $4.4 billion (SGD 5.5 billion) worth of orders is achievable, with orders coming from semisubs, FPSO conversions and harsh environmental jackups," CIMB said in a research note released late Thursday.

Maybank Kim Eng's analyst, Yeak Chee Keong, said in an opinion statement in January this year that he expects Keppel O&M to achieve $4.4 billion (SGD 5.5 billion) worth of orders.

Keppel O&M announced it had snagged contracts worth $460 million in two days this week. The contracts comprise of: $161 million floating production storage offloading contracts from Modec and Toyo, and SBM Offshore, as well as $242 million rig-related contracts from Star Drilling, Ensco and Diamond Offshore.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Petroleum Inspector III
Expertise: Field Service Tech|Marine Surveying|Surveying
Location: Seattle, WA
US Fort Lupton, CO: Entry Level Operator Assistant I - III - Cementing
Expertise: Cementing
Location: Fort Lupton, CO
SXL - Senior Counsel, Corporate Finance & Securities
Expertise: Accounting
Location: Newtown Square, PA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours