Sembcorp Marine Reports New Contracts

September 2, 2019

(Photo: Sembcorp Marine)
(Photo: Sembcorp Marine)

Sembcorp Marine said it has won a raft of new projects valued at S$400 million (US$288 million) that includes floating production conversion projects, offshore wind farm jacket foundations fabrication and cruise ship upgrades.

THe company's Sembcorp Marine Rigs & Floaters subsidiary has signed agreements with joint venture companies of Shapoorji Pallonji Oil and Gas Private Limited and Bumi Armada Berhad to convert Ariake, a very large crude carrier (VLCC), into a floating production, storage and offloading (FPSO) unit for deployment in the east coast of India. The vessel will produce up to 90,000 barrels of oil per day (BOPD) and have a 1.3-million-barrel storage facility.

The project includes hull repairs and upgrading as well as fabrication of at least three topside modules which Sembcorp Marine will install on the vessel. The work will be done at the Tuas Boulevard Yard, with delivery scheduled in the second half of 2021.

Sembcorp Marine Repairs & Upgrades has added three new gas projects to its portfolio, namely conversion of liquefied natural gas (LNG) tanker Dwiputra into a 125,000cbm floating storage and regasification unit (FSRU) for a joint venture between Mitsui O.S.K. Lines (MOL) and Karpower International; conversion of NYK Line’s former gas carrier LNG Flora into a 127,000cbm floating storage unit (FSU) for Gasfin Development; and upgrading works on the 173,400cbm FSRU BW Magna for BW LNG.

All three projects will be completed at Sembcorp Marine Admiralty Yard, for delivery between the end of this year and February 2020.

Sembcorp Marine Offshore Platforms has landed a contract with Jan De Nul n.v. to fabricate 15 jacket foundations for the Formosa 2 Offshore Wind Farm.

Located 4 kilometers offshore Miaoli County in the Taiwan Strait, the 376-megawatt Formosa 2 facility will be Taiwan’s largest offshore wind farm, generating sufficient electricity for over 380,000 households when it starts operation in late 2021.

“The partnership with Jan De Nul on Formosa 2 represents our first exploit in the highly competitive Taiwanese offshore wind sector,” said Sembcorp Marine Head of Offshore Platforms, Samuel Wong. “This is an important opportunity to extend our engineering solutions into the Asian offshore renewable energy markets.”

Sembcorp Marine will deliver the Formosa 2 jacket foundations to Jan De Nul by December 2020.

Sembcorp Marine President & CEO Wong Weng Sun said, “Despite the challenging market conditions, we have been steadfastly pursuing the available pockets of opportunities. I am very pleased that our teams have translated several of these opportunities into new contracts.

“As we respond to current market enquiries and customer requirements, Sembcorp Marine will continue to innovate and improve our capabilities, so that we can sustain our long-term competitiveness by having the best solutions for the evolving global offshore, marine and energy industries.”

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