Keppel O&M reels in $153m in contracts from repeat customers

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Keppel Offshore & Marine has reeled in another catch after its wholly owned subsidiaries Keppel Shipyard and Keppel Nantong managed to secure contracts from repeat customers worth a total of S$153 million.

Keppel Shipyard’s contract is for the conversion of a Floating Production Storage and Offloading (FPSO) vessel for Armada Cabaca Limited, a wholly owned subsidiary of former customer Bumi Armada.

Meanwhile, Keppel Nantong’s contract is to construct a submersible barge for Smit Shipping, a wholly-owned subsidiary of Royal Boskalis Westminster Group.

Keppel Shipyard has commenced work on the FPSO conversion for Bumi Armada which is scheduled to complete in 2Q16.

The yard’s work scope for this project includes refurbishment and life extension works, upgrading of living quarters to accommodate 100 personnel, installation and integration of an external turret mooring system and topside process modules. 

Over in China, work has also commenced for the barge that Keppel Nantong is building for Smit Shipping. The new barge, Giant 7, will be the third such unit to be delivered by Keppel to the marine services company. Giant 7 is slated to be completed in 2H15, while Giant 5 and 6 are on track for completion in end 2014 and early 2015 respectively.