Sembcorp Marine bags $405 million order to build platforms for two giant offshore projects
- Business & Finance
Singapore’s offshore rig builder Sembcorp Marine has clinched two offshore platform contracts worth over S$550 million ($405M) that support redevelopment efforts at the Al Shaheen and Tyra fields, located in Qatari waters and the Danish North Sea, respectively.
Sembcorp Marine said on Monday it would team up with North Oil Company (NOC) to fabricate two wellhead platforms for the NOC-operated Al Shaheen oil field, which would be bridge-linked to the field’s existing facilities.
Awarded under NOC’s Gallaf Batch 2 Project, the contract covers engineering, procurement, construction, installation, commissioning and offshore brownfield integration of the platforms, to be started-up at Al Shaheen by December 2021.
The Gallaf Project is a multi-phase development for maintaining Al Shaheen’s production capacity at a plateau of 300,000 barrels of oil per day (bopd).
Situated 80km north of Ras Laffan, Al Shaheen has one of the world’s biggest oil reserves. It is the largest oil field in Qatar, contributing to 45% of the country’s oil production.
Separately, Sembcorp Marine as a subcontractor will fabricate certain platforms and bridges for Total in the Tyra Redevelopment Project.
To be ready in the first quarter of 2021, the platforms will, in part, replace ageing facilities and sustain daily outputs of 60,000 barrels of oil equivalent (BOE) at the Tyra field over the next 25 years.
Tyra is the largest gas condensate field in the Danish sector of the North Sea. Post-redevelopment, it will produce enough gas to power 1.5 million homes in Denmark.
“Sembcorp Marine’s successful bids in the Gallaf Batch 2 and Tyra projects reinforce our engineering expertise in catering to different geographies and operating environments,” Sembcorp Marine Head of Offshore Platforms Samuel Wong said.
The group has thus far secured S$1.5 billion of new orders in 2019 – an improvement over the total orders received last year – which will contribute to its future earnings. Some S$530 million of these orders pertain to greener solutions, such as scrubber and ballast water management system retrofits as well as gas and renewable energy projects.
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