Keppel Wins Bonus for Work on Matterhorn SeaStar TLP

Keppel FELS Limited has won a cash bonus for delivering a quality project on time and on budget to Atlantia Offshore Limited.

The bonus was for outstanding performance in the detailed engineering and excellent fabrication on the hull of the Matterhorn SeaStar Tension Leg Platform.

A wholly owned subsidiary of Keppel Corporation Ltd, Keppel FELS was also awarded a safety bonus for achieving an incident-free safety record of more than one million man-hours during the 11-month construction period.

Said Mr Choo Chiau Beng, Chairman and CEO of Keppel Offshore & Marine, a company under Keppel Corporation, at the naming ceremony today, "Once again, we have exceeded our customer's expectation in this project which is Atlantia's biggest proprietary SeaStar TLP. This is also their first to be built outside the United States, and in accordance with ISO 9000:2000 criteria. "

Measuring 84 feet in diameter, the hull of this Matterhorn SeaStar TLP, which is the fourth in the series, was completed at a competitive price of US$22 million. It will be the first SeaStar production platform supporting vertical access production flowlines running through a central moonpool and controlled by surface trees.

Mr Choo added, "We have shown that we can deliver quality projects to our customers ahead of schedule and on budget. In fact, since the recent integration with Keppel Shipyard, the two companies have been able to achieve higher productivity and efficiency."

Said Mr Joe Blandford, President and Chief Executive Officer of Atlantia Offshore, "We carried out a very thorough audit of Keppel FELS before awarding them the job. I am impressed with their ability to complete a great job on schedule, despite this being its first SeaStar.

"Keppel FELS is one of the most professionally run contractor organizations we have had the opportunity to work with and their commitment to excellence is outstanding in this industry. Their willingness to give us feedback, to help us do a better job for our client, and for our future clients, is very much appreciated."

Richard Matten, Atlantia''s Project Manager, said, "KFELS' performance throughout the project has been simply outstanding and it has exceeded all Atlantia's expectations. KFELS successfully developed and implemented the optimum sequence of fabrication for the novel structure. Assembly proceeded without problem due to the excellent planning, engineering and execution by Atlantia and KFELS."

The Matterhorn SeaStar TLP hull will be transported to the Gulf of Mexico for topside installation, after which it will work in the Matterhorn Field in the Mississippi Canyon Block 243 in 2,850 feet of water for TotalFinaElf E&P USA.