Keppel Agrees USD 95 Mn Worth of FPSO, Dredger Deals

Singapore-based shipbuilder Keppel Offshore & Marine has secured two contracts worth around SGD 130 million (USD 95.5 million).

Through its subsidiaries, Keppel Shipyard Ltd (Keppel Shipyard) and Keppel FELS Limited (Keppel FELS), the shipbuilder agreed the modification of a floating production storage and offloading vessel (FPSO) and the construction of a new dredger with repeat customers.

Namely, Keppel Shipyard and Yinson Nepeta Production, a subsidiary of Yinson Production (Yinson), signed a deal for the fast-track modification and upgrading of FPSO Allan. Keppel Shipyard’s scope of work includes refurbishment and life extension works, fabrication and installation of a new riser balcony, spread mooring system and helideck, as well as modification of the vessel’s topsides and marine systems.

The project for Yinson is scheduled to commence in the third quarter of 2019 with delivery expected in the first quarter of 2020. Upon completion, the FPSO will have a storage capacity of 700,000 barrels of oil and a processing capacity of 60,000 barrels of oil per day. It will be deployed in the Anyala and Madu fields, offshore Nigeria for First Exploration and Petroleum Development Co Ltd.

The shipbuilding contract was signed between Keppel FELS and Van Oord for the construction of a high-specification trailing suction hopper dredger (TSHD). This follows from an option granted to Van Oord based on earlier contracts entered in May 2018 for two similar units.

Expected to be completed in the first quarter of 2022, the TSHD will have a hopper capacity of 10,500m3 and will be LNG ready.

“This is the third newbuild dredger for Van Oord and the third FPSO project for Yinson. We are able to leverage the experience of working closely with our customers as well as our engineering and construction expertise to further improve productivity on their projects,” Chris Ong, CEO of Keppel O&M, said.