Keppel pops the champagne on $12b orderbook

Just in time for the 10th anniversary.

According to a release, Keppel Offshore & Marine Ltd (Keppel O&M) celebrated its 10th Anniversary in 2012 with a strong net orderbook of S$12.2 billion, including S$9 billion worth of new contracts secured year-to-date.

Since 2002, the collective strength of Keppel O&M has delivered strong results. Revenue grew three-fold from S$1.9 billion in 2002 to over S$5.7 billion in 2011.

For the first nine months of 2012, Keppel O&M has achieved over S$6.2 billion in revenue. Economic Value Added also reached S$992 million in 2011, from S$20.2 million in 2002. These achievements were generated by a global workforce of over 30,000, a significant increase from around 14,000 in 2002.

Other current projects of BrasFELS, Keppel O&M's yard in Angra dos Reis, Brazil, include the P-61 Tension Leg Wellhead Platform (TLWP) for the Papa-Terra field in Brazil's Campos Basin, and the upgrading of a drillship for Noble Corporation.

The yard recently garnered bonuses totalling US$2 million for delivering FPSO Cidade de Sao Paulo safely, early and to high customer satisfaction.

Reflecting the market's strong acceptance of its solutions, Keppel O&M has built 50% of the jackup rigs and one-third of the semisubmersible rigs to enter the global market since 2000. In 2013, Keppel FELS expects to deliver a new record of some 20 rigs, exceeding its previous record of 13 rigs in 2009.

In the marine business, Keppel Shipyard has so far delivered 105 offshore conversion and upgrading projects, while Keppel Singmarine has to-date completed some 400 specialised newbuild ships including offshore support vessels and specialised units.