Keppel Bags $145M+ Deals For FPSO, FSRU Work

Keppel Bags $145M+ Deals For FPSO, FSRU Work
Keppel Offshore & Marine has won deals for the conversion of an FSRU and the integration of an FPSO.

Singapore's Keppel Offshore & Marine has won deals for the conversion of a floating storage and regasification unit (FSRU) and the integration of a floating production, storage, and offloading vessel (FPSO).

Keppel said that the contracts were won via its wholly-owned subsidiary Keppel Shipyard. For the first project, Keppel Shipyard has inked a limited notice to proceed (LNTP) with a global provider of LNG shipping services to commence early works for the conversion of a liquefied natural gas (LNG) Carrier into an FSRU. The company did not reveal the name of the client.

The scope of the LNTP includes engineering work commencing in the fourth quarter of 2021, with the full notice to proceed (FNTP) for the remainder of the work expected within the first quarter of 2022 when the project reaches the final investment decision.

For the second project, Keppel Shipyard has received a letter of award from BW Offshore, a fully-owned subsidiary of the BW Group, to undertake the integration work on a newbuild FPSO. The formal contract signing is expected by early 2022.

Keppel Shipyard will be responsible for the integration of about 35,000 tons of topside modules and a turret. Additional options are available for the fabrication of structures such as a flare tower.

The total value of the two projects is expected to be over $145 million, including the full notice to proceed for the FSRU.

“Further announcements will be made when the FNTP on the FSRU project has been received, and when a definitive contract has been entered into between Keppel Shipyard and BW Offshore on the FPSO integration,” Keppel stated.

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