Keppel Offshore & Marine (Keppel O&M), through its wholly-owned subsidiaries, has been awarded contracts worth around $75 million for the refurbishment and completion of two floating production units (FPU).
The first contract is by Keppel AmFELS with Salamanca FPS Infra for the refurbishment of a floating production unit to be operated by LLOG Exploration Offshore.
Keppel AmFELS’ scope of work on the production facility includes demolition, hull modifications, and upgrades to key systems. The contract, which is expected to be completed in the 2QFY2024, will be deployed in the deepwaters of the Gulf of Mexico to service the Leon field and the Castile field.
The second contract was signed between Keppel Shipyard and MODEC Offshore Production Systems to support the completion of a floating production storage and offloading vessel (FPSO).
Keppel Shipyard’s scope of work is to complete the topsides integration work as well as supporting the pre-commissioning and commissioning activities for the FPSO. The vessel is expected to arrive at its Singapore yard in 4QFY2022.
“We are pleased that customers around the world come to us for upgrade, modification and completion projects, which attests to our strong execution capabilities and versatility in undertaking a variety of projects as well as providing value-added services,” says Chris Ong, CEO of Keppel O&M.
“Such projects also underscore our expertise in advancing the circular economy through repurposing or rejuvenating existing vessels and renewing their lifespans. As the demand for energy increases and the market improves, we are committed to supporting the energy transition through our innovative solutions,” he adds.
Shares in Keppel Corp closed 8 cents higher or 1.16% up at $6.96 on Aug 1.