Keppel Shipyard Completes Vanguard FPSO

Monday, February 10, 2003
Keppel Shipyard, the wholly owned subsidiary of Keppel Corporation Limited (KCL), has delivered the first Floating Production Storage and Offloading (FPSO) vessel for the joint venture of Vanguard and Premuda. Said Michael Barraclough, Managing Director of Vanguard Floating Production Limited (Vanguard), “We are very pleased with the quality of work and the safety performance of this FPSO and have decided that Keppel Shipyard should be a preferred yard to undertake future FPSO projects. We want to continue to be able to tap into their experience and expertise in FPSO and FSO conversions.” Premuda and its partner Vanguard are based in Italy and United Kingdom respectively. The FPSO has been converted for their joint company, Four Vanguard SNL. At a ceremony held at Keppel Shipyard on 8 February 2003, Mrs Marcelina Barraclough, the wife of Michael Barraclough named the vessel FPSO Four Vanguard. The 94,225 dwt vessel arrived at Keppel Shipyard in June 2002 for repair and conversion work. The work scope includes fabricating and installing a comprehensive topside system, helideck and flare tower. It also includes the installation of the Disconnectable Single Point Mooring System, which can quickly disengage the FPSO when faced with cyclone weather conditions. Upon completion in mid February 2003, FPSO Four Vanguard will be operated by Vanguard’s Australian subsidiary company Vanguard Floating Production Australia. It will be deployed to the Woollybutt field offshore in Western Australia. The field is operated by AGIP Australia Ltd, which owns the block in partnership with ExxonMobil and Tap Oil. Barraclough said, “We believe FPSO Four Vanguard will establish a new bench mark in the Australia offshore industry for fast track, lower cost, FPSO conversion and operation. FPSO Four Vanguard will also operate and establish on-going production so that Agip and its partners ExxonMobil and TAP Oil can receive the benefits of all their own efforts, planning and investment.”

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