Sembcorp to Construct Ekofisk Accommodation Topside

SMOE, a wholly-owned subsidiary of Sembcorp Marine, has secured an estimated S$550 million contract from ConocoPhillips Skandinavia AS, Norway to build the Ekofisk accommodation topside to be installed at the Ekofisk Center in the North Sea.

The contract entails the provision of engineering, procurement and construction of a 10,000-metric-tonne accommodation topside that lodges 552 personnel. Other deliverables include two bridges, a bridge connector and a helideck. The platform will also feature a built-in centralized telecommunications center and a control tower.

An initial two months of engineering design work on the accommodation cabins, led by a team of senior SMOE design engineers, will be carried out in Norway. Construction of the project is expected to commence in the third quarter of 2010 with delivery scheduled for 2013 installation. On completion, it will be deployed at the Greater Ekofisk Area, which is located approximately 300 kilometers offshore Stavanger. At location, the topside will sit above a water depth of 80 meters.

The contract is not expected to have any material impact on the earnings and net tangible assets per share of Sembcorp Marine for the year ending December 31, 2010.