Keppel FELS Wins Shah Deniz Work from BP

Keppel FELS has been awarded a US$96 million fabrication project from BP Exploration (Shah Deniz) Ltd, the Operator of the Shah Deniz Gas Export Project. This is a fast-track project involving the fabrication of the platform and living quarters of the TPG500 self-installing jack-up drilling/production/quarters platform. The TPG 500 system is proprietary to Technip Coflexip, who are designers for the Project.

Ex-yard delivery is scheduled for July 2004, when the Client’s transportation contractor will ship the four hull strips of the TPG500 jack-up to the Caspian Sea for integration with other in-country fabrication modules.

Mr. Bill Nelson, BP Project Director of the Shah Deniz Gas Export Project, said, "We are pleased to have Keppel FELS join BP's Shah Deniz Gas Export project team. In the short time they have been on the job, FELS has demonstrated good working relationships with the other contractors and a strong commitment to a safe and successful delivery of this new facility."

Mr Tong Chong Heong, Managing Director/Chief Operating Officer of Keppel Offshore & Marine said, "We are pleased to secure this challenging job of fabricating the highly complex TPG500 platform in the given time frame. Our knowledge of the Caspian has been demonstrated by the completion of a jack-up rig and the current construction of a semi-submersible in Baku."

The TPG500 will be deployed in the Shah Deniz gas-condensate field in the Caspian Sea, approximately 100 km to the south of Baku, Azerbaijan. Delivery of First gas to Turkey, the primary sales market for the Shah Deniz project is targeted for end 3Q 2006.