Keppel secures two FPSO contracts worth $153 million

9/19/2013

Keppel secures two FPSO contracts worth $153 million

SINGAPORE -- Keppel Shipyard has secured two FPSO conversion contracts from repeat customers worth a combined estimated value of $153 million. These contracts are from SBM Offshore and M3nergy Offshore.

Keppel’s new conversion project for SBM Offshore is for the FPSO that will host Shell’s Stones ultra-deepwater development in the GOM. 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 scope of work 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 bopd, and 15 mmscfd of gas treatment and export. The converted FPSO will be able to store 800,000 bbl of crude oil, and its total topsides weight will reach 7,000 t.

Including the Stones FPSO, Keppel 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 will undertake refurbishment and life extension works; fabrication and installation of new structures, piping systems, spread-mooring system; upgrading of 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 for its operations in the Bukit Tua field, which is 35 km north of Madura Island, offshore Indonesia. The FPSO will have a production capacity of up to 25,000 bbl per day of liquids, and a storage capacity of up to 630,000 bbl.

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