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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Free Boat from Ice Near Woods Hole

A Coast Guard crew responded to a fishing vessel trapped in ice in Woods Hole Passage, Woods Hole, Massachusetts, Saturday. At about 3 p.m., the crew of the fishing boat Capt.

Tug Boat Owner Jailed After Crew Man Dies

A tug boat owner was today was given an 8 month custodial sentence after his crew member died trying to reattach a tow line in a violent storm. During today’s hearing at Southampton Crown Court,

COMPIT to Showcase Smarter Ships, Systems & Solutions

The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany.

Contracts

Chassis Pools for Port of Long Beach

Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1,

Davie Building LNG-powered Ferries

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under

Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia.

Shipbuilding

Zvezda Shipyard Comes Up Despite Western Sanctions

German and Finnish partners continue to build Russia’s Far Eastern “Zvezda” shipyard for Arctic oil exploration ships, in spite of Western sanctions, reports Sputnik.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

Ferus Smit to Launch Newbuild Bulker

Ferus Smit will launch newbuild bulk carrier Arklow Breeze on Friday, March 20 at Westerbroek.   Arklow Breeze is the sixth and last vessel of a series to be

Offshore

Hercules Offshore Shares Fall 33%

Drilling contractor Hercules Offshore Inc's shares fell as much as 33 percent to a record low on Friday, a day after Deutsche Bank cut its price target on the company's stock to $0.

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Mexico Approves 5 Shallow Water Areas in Round One Oil Tender

Mexico has approved the terms for five shallow water areas containing around 355 million barrels of oil equivalent as part of its Round One tender to open up the country's oil fields,

Finance

Indian Ports to Set Sail on Corporatization

Indian Finance Minister Arun Jaitley said in Union Budget 2015 that government-run ports in India will be encouraged to corporatize and become companies under the Companies Act.

Zvezda Shipyard Comes Up Despite Western Sanctions

German and Finnish partners continue to build Russia’s Far Eastern “Zvezda” shipyard for Arctic oil exploration ships, in spite of Western sanctions, reports Sputnik.

ADB Okays $30mln for Pak LNG Terminal

The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s

Energy

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Vessels

USCG Free Boat from Ice Near Woods Hole

A Coast Guard crew responded to a fishing vessel trapped in ice in Woods Hole Passage, Woods Hole, Massachusetts, Saturday. At about 3 p.m., the crew of the fishing boat Capt.

Tug Boat Owner Jailed After Crew Man Dies

A tug boat owner was today was given an 8 month custodial sentence after his crew member died trying to reattach a tow line in a violent storm. During today’s hearing at Southampton Crown Court,

Long Beach Harbor Tour Season

Long Beach Port is once again giving tourists opportunity to enjoy a rare view of port operations on a free Port of Long Beach harbor tour. The organizers are

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators 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: 0.3010 sec (3 req/sec)