Keppel lands S$130 million in contracts from repeat customers

Keppel Offshore & Marine has obtained contracts worth around S$130 million from repeat customers for a newbuild dredger and to modify a floating production storage and offloading (FPSO) vessel, the rigbuilder said in a filing to SGX Tuesday.

The first contract is between Keppel O&M’s wholly owned subsidiary Keppel FELS and Van Oord for a high-specification trailing suction hopper dredger (TSHD), the filing said.

The dredger is the third to be built for Van Oord, and follows an option based on contracts entered in May 2018 for two similar dredgers, Keppel said.

The TSHD is expected to be completed in the first quarter of 2022, Keppel said.

The second contract is between Keppel O&M’s wholly owned subsidiary Keppel Shipyard and Yinson Nepeta Production, a wholly owned subsidiary of Yinson Production, for the fast-track modification and upgrading of FPSO Allan, Keppel said.

The work includes refurbishing, fabrication and installation of a new riser balcony and helideck and modifications of the vessel’s topsides and marine systems, the filing said.

The work, which is the third FPSO project for Yinson, is expected to begin in the third quarter of this year and be delivered in the first quarter of 2020, Keppel said.

Once it’s completed, the FPSO will have a storage capacity of 700,000 barrels of oil and a processing capacity of 60,000 barrels of oil a day, the filing said, adding it would be deployed offshore Nigeria for First Exploration and Petroleum Development.

While you’re here, we’re hoping you can help us out.

Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.

Your monthly contribution will directly fund our journalism.

S$2     S$4       S$8

S$18       S$28       S$88

You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.