Keppel O&M gets around $250m worth of integration FPSO contracts

The contracts were from repeat customers.

Keppel Offshore & Marine Limited (Keppel O&M), through its wholly-owned subsidiary Keppel Shipyard Limited, received contracts valued at $250m for the integration of two Floating Production Storage and Offloading vessels (FPSO).

The first contract is between Keppel Shipyard and BW Offshore, a subsidiary of BW Group, to undergo the integration work on a newbuild FPSO. This follows the Letter of Award that Keppel Shipyard received from BW Offshore.

Under the agreement, the shipyard will be responsible for the installation and integration works of about 43,000 tons of topside modules, deck equipment, and the turret mooring system, as well as completion and commissioning support for BW Offshore.

The hull of the FPSO is expected to arrive in Singapore in the middle of 2023 whilst its delivery is scheduled for the second half of 2024.

Aside from this, Keppel Shipyard also signed contracts with Single Buoy Moorings, Inc. (SBM), as well as a joint-venture firm between SBM and McDermott to “undertake the fabrication, installation, and integration of topside modules for an FPSO project.” 

The yard will also back SBM with pre-commissioning and commissioning work. Construction is expected in the second half of 2022 ahead of the FPSO hull’s arrival in the yard in the first half of 2023, with delivery scheduled for the second half of 2024.