Keppel Bags Two FPSO Contracts Worth $150m

Keppel Shipyard has secured two Floating Production Storage and Offloading (FPSO) conversion contracts from repeat customers worth approx $150.8 million. These contracts are from SBM Offshore N.V. (SBM Offshore) and M3nergy Offshore Limited (M3nergy Offshore).

Keppel Shipyard’s new conversion project for SBM Offshore is for the FPSO that will host the Stones ultra deepwater development by Shell in the Gulf of Mexico. Once installed, the vessel will be the deepest production facility in the world, as well as the deepest FPSO with a disconnectable buoy (Buoyant Turret Mooring or BTM).

The yard’s work scope for the Stones project includes refurbishment and life extension works; upgrading of living quarters; fabrication and installation of the internal disconnectable buoy BTM system and topside module supports; as well as the installation and integration of topside modules.

The FPSO design has a processing facility capacity of 60,000 barrels of oil per day (bopd) and 15 mmscfd of gas treatment and export. The converted FPSO will be able to store 800,000 barrels of crude oil and its total topsides weight will reach 7,000 tonnes.

Including the Stones FPSO, Keppel Shipyard has undertaken 20 major projects for SBM Offshore since 2000.

Meanwhile, Keppel Shipyard’s second contract is from M3nergy Offshore to convert an FPSO for the Bukit Tua Field.

For this project, Keppel Shipyard will undertake refurbishment and life extension works; fabrication and installation of new structures, piping systems, spread-mooring system; upgrading of the living quarters; as well as the installation and integration of the topsides process modules.

Scheduled for completion in the second quarter of 2014, the FPSO has been chartered by PC Ketapang II Ltd for its operations in the Bukit Tua field, which is 35 kilometres north of Madura Island, offshore Indonesia.

The FPSO conversion contract for the Bukit Tua field in Ketapang Block, Indonesia, was awarded to the consortium PT Trasamudra Usaha Sejahtera – M3nergy Offshore Ltd. M3nergy Offshore is a subsidiary of M3nergy Berhad.

The FPSO will have a production capacity of up to 25,000 barrels per day of liquids and a storage capacity of up to 630,000 barrels.

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Press Release, September 18, 2013