Keppel Offshore & Marine Reels in $186M in New Contracts

February 9, 2022

©Keppel Offshore & Marine
©Keppel Offshore & Marine

Singapore's Keppel Offshore & Marine said Wednesday it had secured contracts worth around S$250 million (~$186 million) for the conversion of a Floating Storage and Regasification Unit (FSRU), integration of a Floating Production Storage and Offloading (FPSO) vessel, and the "jumboisation" of two Trailing Suction Hopper Dredgers (TSHD).

For the first contract, Keppel Shipyard has received the Final Notice to Proceed (FNTP) from GAS-fifteen Ltd, a  GasLog Carriers subsidiary, for the conversion of a Liquefied Natural Gas (LNG) Carrier into an FSRU. This follows Keppel’s announcement on November 25, 2021  that Keppel Shipyard had signed a Limited Notice to Proceed (LNTP) to start early works for the conversion.

The yard’s scope of work for this project includes the EPC of the regasification skid, as well as the supporting systems such as boilers, spread-mooring, offloading, electrical and automation systems.

When completed, the FSRU will be deployed in waters some 17km southwest of the Port of Alexandroupolis, Northern Greece, and will have an overall delivery capacity of approximately 5.5 billion cubic meters per year, with a peak send out of 22 million cubic meters per day. The FSRU will eventually be transferred to the Greek company GASTRADE S.A. and will supply the markets of Southeastern Europe with natural gas.

This is also the sixth major FSRU conversion that Keppel Shipyard will be undertaking, having converted the world’s first FSRU in 2008.

Bacalhau FPSO Integration

The second contract is between Keppel Shipyard and Japanese FPSO specialist MODEC for the installation and integration of topside modules onboard the Brazil-bound Bacalhau FPSO. The yard’s scope of work will also include the fabrication of a flare tower and two crane pedestals, the assembly and installation of two deck cranes, as well as completion and commissioning support for MODEC.  

The hull of the FPSO is expected to arrive in Singapore in 2H 2022, with delivery scheduled for 2H 2023. Upon completion, the FPSO will be deployed to serve in the Bacalhau field located in the Santos Basin, offshore Brazil for Equinor and its field partners.

Capable of producing up to 220,000 barrels of crude oil per day, producing and injecting up to 530 million standard cubic feet of associated gas per day, and injecting up to 200,000 barrels of seawater per day, the FPSO will also boast a minimum storage capacity of 2,000,000 barrels, making it one of the largest FPSOs to be delivered to Brazil.  

To date, Keppel O&M has delivered 12 projects to the MODEC group of companies, including FPSO conversions, module fabrication and integration works, as well as turret projects. Keppel O&M’s yard in Brazil, BrasFELS, has also supported MODEC for offshore support works during the operational phase of several FPSOs.

"Jumboisation" of dredgers

The other contracts are between Keppel Shipyard and a subsidiary of the Dutch dredging giant Boskalis for the repair and "jumboisation" of two TSHDs. 

Work on the first TSHD has started and it is expected to be re-delivered in 2Q 2022, while the second TSHD is scheduled for arrival in 3Q 2022 with re-delivery in 4Q 2022. Each vessel will be integrated with a new owner-furnished block which will increase the vessel’s overall length from its existing 156 meters to 201 meters upon completion. At the same time, both vessels will undergo refurbishment including the overhauling and replacement of equipment.

TSHDs support the construction and maintenance of ports and waterways, coastal protection against rising sea levels, and land reclamation for growing populations.

Keppel O&M has delivered four major projects to Boskalis. This includes the jumboisation of dredgers, heavy lift vessel conversions, and the construction of a rock dumping fall pipe vessel. In addition, Keppel O&M yards support Boskalis in the repair and maintenance of Boskalis’ assets.



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