Keppel Wins $89M Deals for Work on 3 Floating Facilities, 1 Pipelay Vessel

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Singapore's Keppel Corp. Ltd. reported Thursday that Keppel Shipyard Ltd., a wholly owned subsidiary of its unit Keppel Offshore & Marine Ltd. (Keppel O&M), has won four contracts valued at approximately $89 million (SGD 120 million) from repeat customers.

BW Offshore's subsidiary BW Catcher Ltd. awarded Keppel Shipyard a contract for the installation and integration of topside modules for a newbuild floating production storage and offloading (FPSO) vessel. When completed, the FPSO will be deployed to the Premier Oil-operated Catcher Field in Central North Sea, UK.

SOFEC, Inc. engaged Keppel Shipyard to fabricate an internal turret mooring system for a floating storage and offloading vessel for Maersk Oil's Culzean Field in UK's section of the North Sea. The Singapore yard expects to complete fabrication of the turret in the third quarter of 2017 (3Q 2017).

Keppel Shipyard will also carry out upgrading work to the pipelay vessel, Castorone, which is currently berthed at the yard, for Saipem Offshore Norway AS (Saipem). Upgrading for Castorone is due for completion in 3Q 2016. The yard's workscope includes the replacement of switchboards to improve the vessel's power distribution systems, renewal works on 28 miles (45 kilometers) of electrical cables, various pipelay system upgrades as well as the construction of new water ballast tanks and conversion of old ones into fuel oil tanks to optimize the vessel's capabilities.

The Singapore yard's final contract was awarded by Woodside Energy Ltd. for the modification and upgrading of FPSO Ngujima-Yin to support the Greater Enfield Project offshore Western Australia. The workscope covers marine and hull life extension and refurbishment works; installation of new customized water flood module, turret risers and power and control module; as well as modification of swivel system, marine and topside related piping. Keppel Shipyard is expected to commence detailed engineering in July and construction work is targeted to begin in 2Q 2018.

"We are pleased to secure new orders from long-time customers who continue to entrust their projects with us, whether it is for turret fabrication or vessel upgrades. Leveraging our comprehensive range of marine services, proven execution excellence and experience, we continue to be the trusted and preferred partner in the industry, providing cost-effective and robust solutions," Michael Chia, managing director (Marine & Technology) of Keppel O&M said in the press release.

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