Keppel obtains around S$160 million in integration and upgrading contracts

Keppel said on Wednesday it obtained contracts with a combined value of S$160 million from repeat customers for upgrading a drilling semisubmersible and for integration work on a floating production storage and offloading (FPSO) vessel.

The first contract is between Keppel Offshore & Marine’s wholly owned subsidiary Keppel Shipyard and a leading operator of oil and gas production vessels for fabrication and integration work on a FPSO vessel, Keppel said in a filing to SGX on Wednesday.

Work on the contract is expected to begin in the third quarter and delivery is scheduled for 2021, Keppel said.

The second contract is between Keppel O&M’s wholly owned subsidiary Keppel FELS and Diamond Offshore to upgrade the drilling semisubmersible rig Ocean Onyx, the filing said.

The Ocean Onyx is scheduled for delivery in the second half of this year and will initially be deployed offshore Australia, Keppel said, adding it has collaborated with Diamond Offshore on more than 12 projects since 2005.


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