Keppel Wins Conversion Work from Maersk Contractors

Keppel Shipyard has secured the conversion of a tanker to a floating production storage offloading facility (FPSO) from Maersk Contractors for approximately S$96 million.

The work scope on the fast-track conversion of VLCC Ellen Maersk to an FPSO includes the installation and integration of the topside modules; the fabrication and installation of the internal moonpool for the turret, flare tower, piperack and helideck; and the upgrading of the accommodation.

Built in 2000, Ellen Maersk is 333m in length and 58m in breadth, with a deadweight tonnage of 308,000 tons.

It is expected to arrive in Keppel Shipyard in early 2007 and be completed by early 2008. It will be leased to Woodside Energy Ltd, Australia's largest publicly traded oil and gas exploration and production company for deployment in the Vincent Field, Western Australia.

The FPSO will be capable of producing 120,000 barrels of oil per day (bopd) with a storage capacity of 1.9 million barrels. The vessel will be moored in around 400 meters of water depth. First oil is anticipated in 2008.

Mr. Paul Carsten Pedersen, Senior Vice President of Maersk Contractors, said, "We have entrusted Keppel Shipyard with the conversion of the FPSO as a result of their strong track record. We have been impressed with Keppel Shipyard's good reputation of excellent and reliable project management."

Keppel Shipyard has a strong track record of around 60 FPSO and FSO conversion and repair projects. It is currently carrying out four other FPSO and FSO conversion and upgrading projects at its yards. Major conversion projects include the floating production unit, P-53, for Petrobras, Brazil's national oil company and two FPSOs for Prosafe Production.

Mr. Nelson Yeo, Executive Director of Keppel Shipyard, said, "We thank Maersk Contractors for their vote of confidence in awarding Keppel Shipyard with this FPSO conversion project. We are committed to our promise of delivering quality projects on time and on budget."

The Keppel Offshore & Marine (Keppel O&M) group has recently completed the construction of a semisubmersible for the A.P. Moller - Maersk group, as well as carried out the conversion of FPSO Alvheim in which Maersk Contractors was the project manager under Marathon Petroleum Company (Norway). It is currently carrying out the construction of a series of four jackup rigs and three semisubmersibles.

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