Keppel secures FPSO, SCV contracts worth $294 million


Keppel secures FPSO, SCV contracts worth $294 million

SINGAPORE -- Keppel Offshore & Marine Ltd's wholly-owned subsidiaries Keppel Shipyard Ltd and Keppel Singmarine Pte Ltd  have secured contracts worth a total of $294 million (S$368 million).

The contract secured by Keppel Shipyard is for the conversion of a FPSO vessel for Armada Kraken Pte Ltd, a wholly-owned subsidiary of Bumi Armada Berhad .

The new FPSO will be a harsh-environment unit that is designed for operations in the North Sea under a stringent regulatory regime. Work has commenced and the FPSO is scheduled for delivery in 3Q 2015. When completed, the FPSO will be capable of producing the heavy-oil (API degree 14) in the Kraken field, UK sector of the North Sea, over a period of 25 years.

In addition, the FPSO will be able to handle a peak fluid rate of 460,000 bpd and 80,000 bopd, 275,000 bpd of water injection, 20 MMscf of gas handling and has a storage capacity of 600,000 bbl.

Keppel Shipyard's work scope for this FPSO project includes refurbishment and life extension works, upgrading of living quarters to accommodate 90 personnel, installation of an internal turret mooring system as well as the installation and integration of topside process modules.

Subsea construction

Meanwhile, Keppel Singmarine has secured a contract from Baku Shipyard LLC to design and carry out fabrication and outfitting works for a Subsea Construction Vessel (SCV) which, when completed, will be deployed for the Stage 2 development of the Shah Deniz field that lies some 70 km offshore in the Azerbaijan sector of the Caspian Sea.

The SCV is a project that Baku Shipyard recently secured from BP Exploration (Shah Deniz) Ltd, the operator of the Shah Deniz gas field development. It is the first major contract secured by the shipyard since its inauguration by the President of Azerbaijan in September 2013.

Baku Shipyard, located in Baku, Azerbaijan, was jointly developed by Keppel O&M, State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC). Keppel O&M, SOCAR and AIC own 10%, 65% and 25% share in the yard respectively. Keppel O&M is responsible for the management and operation of the yard.

Keppel Singmarine's work scope includes the design of the vessel, the fabrication of the hull strips and outfitting them with equipment and systems at its yard in Singapore. The hull strips will be shipped to Baku Shipyard for integration with other components fabricated by Baku Shipyard, and completion after commissioning works and sea trials. The SCV will be built to the proprietary design by Marine Technology Development, the ship design and development arm of Keppel O&M.

The SCV will provide essential support for the construction of subsea structures which will form the biggest subsea production system in the Caspian. Designed to work in 2.5 m significant wave height, the vessel will be equipped with a dynamic positioning system, a 750-metric tonne heave compensated crane for 600 m-deep subsea operation, an 18-men two-bell diving system and two work-class remotely operated vehicles.

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