Keppel’s Secure Contracts Worth S$160 Million

Press Release
Monday, November 05, 2012

Keppel Offshore & Marine Ltd's (Keppel O&M) subsidiaries, Keppel Subic Shipyard, Inc. (Keppel Subic Shipyard) in the Philippines and Keppel Verolme BV (Keppel Verolme) in the Netherlands, have secured contracts totalling S$160 million.

 

Keppel Subic Shipyard has been awarded a contract from Shell Philippines Exploration BV (SPEX) to build a Depletion Compression Platform (DCP) to support the recovery of natural gas from the Malampaya gas field near Palawan Island, in the Philippines.

 

When completed, the DCP will be deployed next to an existing shallow water production platform. The DCP is designed to maintain the current availability and deliverability of natural gas from the Malampaya field through regulating the gas export pressure and flow rates.

 

Keppel Subic Shipyard will be responsible for the fabrication of the entire DCP, integration of the topside modules as well as the fabrication of the link bridge connecting the DCP to the shallow water platform. The DCP comprises gas compression facilities mounted on a barge deck, supported by four tubular legs on base footings.

 

Mr Michael Chia, Managing Director (Marine), Keppel O&M, said, "Over the years, Keppel Subic Shipyard has established a creditable track record in ship repair and major fabrication work. This DCP project is a good platform for us to further enhance our competencies for complex offshore work.

 

"With a 1,500 tonne gantry crane, various other cranes and worksite facilities which are being set up in conjunction with this project, we are positioning our yard with stronger capabilities to offer better services, take on more onshore and offshore fabrication projects as well as handle conversion work for Floating Production Storage and Offloading (FPSO) vessels, including the fabrication of topside modules.



"Keppel Shipyard in Singapore, which has extensive experience in offshore production modules, is supporting Keppel Subic Shipyard on its work scope. Keppel Subic Shipyard will work closely with all stakeholders to ensure that the project is delivered to the highest quality, in a safe and timely manner."



Mr Sebastian Quiniones, Managing Director of SPEX and Malampaya Asset Manager, said, "Keppel Subic Shipyard has demonstrated that it is one of the most comprehensive yards in the Philippines and a natural choice for us for this project. We are confident that with Keppel's experience and competencies, the yard will be able to deliver the project to our highest satisfaction and enable us to support the Philippine government's goal towards energy security."

 

The development of the DCP forms Phase 3 of the Malampaya Deep Water Gas-to-Power project, which is jointly undertaken by government agencies and private companies. The Philippine Department of Energy leads in this project, and is supported by a consortium comprising the Malampaya project operator, SPEX, and its joint venture partners, Chevron Malampaya LLC and the Philippine National Oil Company-Exploration Corporation (PNOC-EC).

 

Over in the Netherlands, Keppel Verolme has secured a contract from its repeat customer Heerema Marine Contractors Nederland B.V. (HMC) for the drydocking survey of the deepwater construction vessel (DCV) Balder. One of the largest crane vessels in the world, Balder measures 154 metres (m) in length and 86m in width, and is capable of lifting 6,300 tonnes.

 

The yard's work scope for this project includes the painting of the hull, bracings and cranes. It will also undertake steel renewals, as well as the maintenance and repairs to the tanks, including piping and conservation works. The vessel is expected to be delivered in 1Q2013.

 

This is Balder's second visit to Keppel Verolme; in 2001, it underwent an extensive conversion program at the yard. The project work scope included the construction of facilities to receive the 120m-high pipe-laying tower and accompanying components.

 

Another project recently completed by Keppel Verolme for HMC was the life extension of the DCV Thialf, HMC's largest such unit. Over the years, Keppel Verolme has undertaken several major projects for HMC.

 

Mr Harold Linssen, Managing Director of Keppel Verolme, said, "Keppel Verolme is pleased to be of service to our repeat customer Heerema Marine Contractors again and look forward to delivering yet another high quality project to them safely, on time and within budget. We pride ourselves on our ability to respond swiftly to our customer's needs with innovative and cost-effective solutions."

 

The above contracts are not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

MARAD Tests Alternative Power for Ships

The Maritime Administration (MARAD) is testing state-of-the-art, environmentally efficient technology onboard the Training Ship (TS) Kennedy.   The National Defense

Contracts

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

Delta "T" Hooks for Offshore Customer

Gaining further ground into the offshore crane market, Delta "T" Systems supplied Cranston Eagle hooks to crane manufacturer Appleton Marine, Inc.   These cranes

China to Import 335 MT of Naphtha, Wants More

China is set to import more than 335,000 tonnes of naphtha and diesel, rare moves for the world's no. 2 oil consumer given it has been self-sufficient at meeting domestic oil product demand,

Shipbuilding

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

Arctic Oil: Bourbon to Enter Arctic Market in 2016

Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

Finance

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

Energy

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Arctic Oil: Bourbon to Enter Arctic Market in 2016

Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor

Libyan Government: Ports, Oil Fields Safe

Libyan oil ports and fields are safe and under government control, the country's interior minister said on Friday after visting the eastern Brega port. "This

Vessels

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

MARAD Tests Alternative Power for Ships

The Maritime Administration (MARAD) is testing state-of-the-art, environmentally efficient technology onboard the Training Ship (TS) Kennedy.   The National Defense

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3398 sec (3 req/sec)