Keppel secures major vessel conversion contract from SBM Offshore

An aerial view of Keppel Shipyard in Singapore. PHOTO: KEPPEL CORP

SINGAPORE - Keppel Shipyard, a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured a floating production storage and offloading vessel (FPSO) conversion contract from SBM Offshore, its 25th major project for the longstanding customer.

The contract is for the conversion of a very large crude carrier (VLCC) into an FPSO, which upon completion, will be deployed to the Liza field, located approximately 193km offshore Guyana, parent Keppel Corp said in a pre-market filing on Thursday (Oct 5).

The dollar value of the contract was not disclosed.

The shipyard's work scope includes refurbishment and life extension works, such as the upgrading of living quarters, fabrication and installation of spread mooring systems, as well as the installation and integration of topside modules.

Keppel said the contract is not expected to have a material impact on its net tangible assets or earnings per share for the current financial year.

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