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    Keppel bags projects worth S$200mn

Summary

One of the projects involves the conversion of a floating storage and regasification unit.

by: Shardul Sharma

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Keppel bags projects worth S$200mn

Keppel Offshore & Marine (Keppel O&M), through its wholly-owned subsidiary Keppel Shipyard, has been awarded work for the conversion of a floating storage and regasification unit (FSRU) and the integration of a floating production storage and offloading vessel (FPSO), it said on November 25. The total value of the two projects is expected to be around S$200mn ($145.77mn). 

For the first project, Keppel Shipyard has inked a limited notice to proceed (LNTP) with a global provider of LNG shipping services to start early works for the conversion of an LNG carrier into an FSRU. The scope of the LNTP includes engineering work starting in 4Q 2021, with the full notice to proceed for the remainder of the work expected within 1Q 2022 when the project reaches the final investment decision, Keppel O&M said.

For the second project, Keppel Shipyard has received a letter of award from BW Offshore to undertake the integration work on a newbuild FPSO. The formal contract signing is expected by early 2022. Keppel Shipyard will be responsible for the integration of about 35,000 metric tons of topside modules and a turret. Additional options are available for the fabrication of structures such as a flare tower.

“Further announcements will be made when the FNTP on the FSRU project has been received, and when a definitive contract has been entered into between Keppel Shipyard and BW Offshore on the FPSO integration,” the company said.