Chow Yew Yuen News

Singapore’s shipyards are looking to recent investments in capacity, design and newly acquired technology to combat order declines after a decades-long offshore buildup. Sembcorp and peer Keppel are making the most of partnerships in FLNG and showing signs they’ll be okay through the downturn, helped by their gas-hungry Australasian backyard and renewed ties with old charterer parties and suppliers. With drilling contractors unable to pay for the offshore rigs they’ve ordered, Singapore’s heavyweight yards have had to defer deliveries and become defacto rig owners.

Keppel Offshore & Marine (Keppel O&M) announced it has secured contracts to build its first two dual-fuel diesel liquefied natural gas (LNG) harbor tugs, and signed a Memorandum of Understanding (MOU) with Keppel-Royal Dutch Shell plc (Shell) to jointly explore opportunities in using LNG as fuel. Keppel O&M's wholly owned subsidiary Keppel Singmarine Pte Ltd secured the tug contracts from Keppel Smit Towage Pte. Ltd and Maju Maritime Pte. Ltd. who have ordered one unit each. The two tugs are expected to use bunkering services provided by the joint venture company, FueLNG Ltd. The tugs will be built to Keppel's proprietary design which won the Outstanding Maritime R&D and Technology Award at the 2015 Singapore International Maritime Awards.

Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International Corporation's offshore product division, which comprises the LETOURNEAU jackup rig designs, rig kit business, as well as its aftersales and aftermarket services. The acquisition will not only broaden Keppel O&M's suite of jackup rig designs but also expand its business in the provision of aftersales and aftermarket services, the company said. The acquired company will operate as Keppel LeTourneau with offices in the United States, United Arab Emirates and Singapore. Chow Yew Yuen…

Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary KS Investments Pte Ltd (KSI), and BG Group plc (BG Group) have been selected to supply Liquefied Natural Gas (LNG) bunker to vessels in the Port of Singapore. The joint bid submitted by Keppel O&M and BG Group for the LNG bunker supplier licence is one of the two top bids selected by the Maritime and Port Authority of Singapore (MPA). The awarding of the licence is in line with the Port of Singapore's plans to launch the LNG Bunkering Pilot Programme in 2017. Keppel O&M and BG Group will work on forming a 50/50 joint venture to deliver an end-to-end bunkering solution using LNG sourced from BG Group's diversified LNG portfolio and leveraging Keppel O&M's expertise in LNG vessel servicing.

Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win strong support from repeat customers by securing four contracts worth a total of about S$125 million. In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) secured two conversion contracts - the first is for a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) vessel awarded by Armada Floating Gas Storage Limited, a wholly-owned subsidiary of Bumi Armada Berhad (Bumi Armada); the second is for a Floating Production Storage and Offloading (FPSO) vessel awarded by Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad. Work on the LNG FSU conversion for Bumi Armada is scheduled to be completed in 3Q 2016.

Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win support from repeat customers by securing four contracts worth a total of about $88.5 million. In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) secured two conversion contracts - the first is for a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) vessel awarded by Armada Floating Gas Storage Limited, a wholly-owned subsidiary of Bumi Armada Berhad (Bumi Armada); the second is for a Floating Production Storage and Offloading (FPSO) vessel awarded by Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad. Work on the LNG FSU conversion for Bumi Armada is scheduled to be completed in 3Q 2016.

Keppel FELS Limited , a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), is on track to deliver three KFELS B Class jackup rigs to Mexican company, Grupo R, safely, on time and on budget. A world's first triple rig naming ceremony was held today at Keppel FELS' yard with Mr Chan Chun Sing, Singapore's Minister in Prime Minister's Office and Secretary-General of the National Trades Union Congress as the Guest of Honour. Built to Keppel's proprietary KFELS B Class design, the three identical rigs were named CANTARELL I, CANTARELL II and CANTARELL III, after the Cantarell oil field in offshore Mexico. They are the first three of five rigs that Keppel FELS is building for Grupo R.

Asian Lift, a joint venture between Keppel Offshore & Marine (Keppel O&M) and Smit Singapore, a member of the Boskalis group of companies, celebrates the naming of Asian Hercules III, which is the largest and most versatile heavy-lift sheerlegs of its kind in the world. The self-propelled floating sheerlegs can perform single lifts of up to 5,000 tonnes and carry out tandem lifts exceeding 5,000 tonnes with multiple cranes. Measuring 106m long and 52m wide with a hook height of at least 120m, the self-propelled floating sheerlegs can perform single lifts of up to 5,000 tonnes and carry out tandem lifts exceeding 5,000 tonnes with multiple cranes.

Keppel FELS Limited has delivered the ultra-harsh jackup rig, Maersk Integrator, to Maersk Drilling, a wholly owned subsidiary of A.P. Moller - Maersk A/S, thirty days ahead of schedule, on budget and with a perfect safety record. The rig was named at a ceremony today in Keppel FELS by Ms Margareth Øvrum, Executive Vice President, Technology, Projects and Drilling, Statoil. Maersk Integrator is an XL Enhanced (XLE) harsh environment jackup rig and the third in the XLE series delivered to Maersk Drilling. It has been customised for operations in the North Sea and has been chartered on a four year term by Statoil for development drilling in the Gina Krog field in the Norwegian sector of the North Sea.

Keppel FELS Limited has delivered the jackup rig XLE-2 to Maersk Drilling, a wholly owned subsidiary of A.P. Moller - Maersk A/S, on budget and seven days ahead of schedule. The rig, which will be named at a ceremony in Norway in October 2014, is a XL Enhanced (XLE) harsh environment jackup rig. It has been customised for operations in the North Sea and has been chartered by Det norske oljeselskap ASA (Det norske) for deployment in the Ivar Aasen project in Norway for five years. Mr Chow Yew Yuen, CEO of Keppel Offshore & Marine (Keppel O&M), said, “This is the largest rig in the world and we are proud to have delivered it seven days ahead of schedule. It is a result of the close partnership we have developed with Maersk Drilling.

Company signs agreement to manage a shipyard in Quanzhou, China. Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly owned subsidiary, FELS Offshore Pte Ltd, has signed a management services agreement with Titan Petrochemicals Group Limited (Titan) - a company in which commodities trading conglomerate Guangdong Zhenrong Energy Co. Ltd. (GDZR) is a major shareholder - and Titan Quanzhou Shipyard Co. Ltd (TQS), to manage the TQS shipyard. TQS, located in Quanzhou in Fujian Province, is one of the largest shipyards in China, occupying a total area of 110ha with 3,600m length of coastline. When completed, TQS will have four ultra-large and wide dry docks…

The CAN DO drillship will be the front runner in exploration, development and completion operations. Following positive feedback and strong enquiries from the market, Keppel FELS Ltd (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd. (Keppel O&M), is proceeding with the building of its new CAN DO drillship. When completed in 2016, the drillship is expected to be a state-of-the-art deepwater exploration, development and completion drilling vessel. Chow Yew Yuen, Chief Operating Officer and CEO-Designate, Keppel O&M, commented, "As with all our market established proprietary designs, our new CAN DO drillship design was developed in close consultation with customers, major oil companies and vendors.

Keppel AmFELS LLC, a US-based wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has won a contract from Central Panuco S.A. De C.V., a subsidiary of Mexico's Perforadora Central S.V. De C.V. (Perforadora Central) to build a KFELS B Class jackup rig worth $240 million, including owner furnished equipment. Scheduled for delivery in 4Q 2015, the jackup rig is intended for operations in offshore Mexico. Built to Keppel's market-established KFELS B Class design, the rig will be able to operate in water depths of up to 400 feet, drill to depths of 30,000 feet with accommodation for 126 persons and a BOP system of 18-3/4 x 15,000 PSI. With this latest contract, a total of 13 KFELS B Class jackup rigs have been ordered for the Mexican market since 2010.

Keppel Offshore & Marine (Keppel O&M) has strengthened its foothold in the offshore and marine industry in Mexico with the signing of an MOU (memorandum of understanding) with PEMEX Exploracion y Produccion (PEP) and P.M.I. Norteamérica, S.A. de C.V. (PMI), both subsidiaries of Mexico's national oil company, Petroleos Mexicanos (PEMEX). The MOU is to jointly develop, own and operate a yard facility in Mexico, the first phase of which is to support the construction of six KFELS B class jackup drilling rigs for PEP. The MOU was signed today by the General Director of PMI, Dr. Jose Manuel Carrera Panizzo, and the Chief Operating Officer and CEO-Designate of Keppel O&M…

Keppel Offshore & Marine Ltd., through its wholly-owned subsidiaries, Keppel FELS and Keppel Verolme, has secured upgrade and repair contracts totaling about S$100million from repeat customers. Keppel FELS in Singapore will be undertaking the upgrade and modification of a semisubmersible (semi) for Ensco while Keppel Verolme will be upgrading a jackup rig for Rowan and repairing a semi for Saipem. Chow Yew Yuen, Chief Operating Officer and CEO-Designate of Keppel O&M said, “Besides newbuidling projects, our yards are constantly kept busy with repairs and upgrades as well.

The Board and Management of Keppel Corporation Limited (Keppel Corp) has announced  the Group's holistic succession plan in charting its next lap of growth. On 1 January 2014, Mr Choo Chiau Beng, 65, CEO of Keppel Corp, will be succeeded by CFO Mr Loh Chin Hua. At Keppel Offshore & Marine Ltd (Keppel O&M), Mr Tong Chong Heong, 66, will be succeeded by COO Mr Chow Yew Yuen as CEO with effect from 1 February 2014. Mr Choo and Mr Tong will be appointed as Senior Advisors to the respective Boards of Keppel Corp, and Keppel O&M and Keppel Infrastructure, thereafter. The Company will make an announcement on the appointment of the new CFO for Keppel Corp at an appropriate time.

Keppel delivers its 45th KFELS B Class jackup rig with another 18 such rigs on order. These KFELS B Class rigs make up more than 30% of the total jackups completed globally since 2000. The rig was delivered to Arabian Drilling Company (ADC) 14 days ahead of schedule, on budget and with a perfect safety record. Keppel FELS earning them an early delivery bonus of US$210,000. Named ArabDrill 50 at a ceremony, the rig will be chartered to Saudi Aramco for operations in offshore Saudi Arabia.

At the 151st Annual Meeting of the Members of ABS, and the subsequent meeting of the ABS Council, industry leaders were elected to serve on a number of bodies that contribute to the operation of the classification society as it fulfills its mission of promoting the security of life and property and preserving the natural environment. "ABS' strength as a global classification society is drawn from its membership and the many regional, national and technical committees that contribute to the process of developing practical, impartial and authoritative standards," said ABS Chairman Robert D. Somerville. •    Robert G. •    James G. •    Maria F. •    Chow Yew Yuen, Keppel Offshore & Marine USA Inc. •    Dr. Jen-Hwa Chen, Chevron Shipping Co. •    Dr.

Keppel FELS delivers the jackup rig 'UMW Naga 4' to UMW Oil & Gas Corporation in Singapore. The rig was completed five days ahead of schedule, on budget and with a perfect safety record. UMW Naga 4 is the fourth consecutive rig that Keppel FELS has delivered ahead of schedule this year. UMW Naga 4 is built to Keppel’s proprietary KFELS B Class design which is today the industry standard for modern jackup rigs. With another 16 KFELS B Class/Super B Class rigs on order, it reflects the strong market demand for the design.

The Board and Management of Keppel Offshore & Marine Ltd (Keppel O&M) wish to announce several new appointments as part of ongoing efforts to put in place a strong leadership team to continually reinforce the Group's growth strategy. Mr Michael Chia, 59, has been appointed Managing Director (Marine) of Keppel O&M and will oversee Keppel O&M's Marine Division which includes Keppel Shipyard, Keppel Singmarine and other marine-related overseas yards. Mr Chia will concurrently hold his appointments as Managing Director (Technology) of Keppel O&M and Managing Director of Keppel O&M Technology Centre. He will report directly to Mr Chow Yew Yuen, Chief Operating Officer of Keppel O&M.

Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary Keppel FELS Brasil, has secured a contract worth approximately US$200 million from MODEC and Toyo Offshore Production Systems Pte Ltd (MTOPS), a joint-venture company established in Singapore by Toyo Engineering Corporation (TOYO) and MODEC, Inc. The contract is for the fabrication and integration of topside modules for the Floating Production Storage and Offloading vessel (FPSO) Cidade de Mangaratiba MV24 at Keppel FELS Brasil's BrasFELS yard in Angra dos Reis, Rio de Janeiro, Brazil. Scheduled to be completed by 2Q 2014, the FPSO will have a daily production capacity of 150,000 barrels of oil per day (bopd) and storage of 1,600,000 barrels of oil.

Keppel Kazakhstan LLP (Keppel Kazakhstan) and its consortium partner Ersai Caspian Contractor LLC, Kazakhstan (Ersai Caspian Contractor), have secured a contract from Teniz Burgylau LLP (Teniz Burgylau), an indirect wholly-owned subsidiary of JSC NC "KazMunayGas" (KazMunayGas) of Kazakhstan, for a KFELS B Class jackup rig worth US$242 million. Scheduled for delivery in 1Q 2015, the jackup rig will be deployed in the Caspian Sea when completed. The work scope of the rig will be shared equally among the two members of the consortium. According to the Oil and Gas Journal dated January 2010, Kazakhstan's proven oil reserves was estimated at 30 billion barrels and its natural gas reserves at 85 trillion cubic feet.

Keppel Offshore & Marine Ltd (Keppel O&M) through its subsidiaries, Keppel Singmarine Pte Ltd (Keppel Singmarine) and Keppel Verolme BV (Keppel Verolme), has secured contracts totaling S$150 million from international customers. Keppel Singmarine, the specialised shipbuilding division of Keppel O&M, has entered into contracts for the building of a 91-metre container vessel and three 4000 DWT (deadweight tonnage) bulk ore/fuel carriers for Papua New Guinea customer Ok Tedi Mining Limited (Ok Tedi Mining), while Keppel Verolme, Keppel O&M's comprehensive yard in the Netherlands, is undertaking upgrading activities of a semisubmersible drilling rig, Scarabeo 6, for Italian customer Saipem Misr for Petroleu Services S.A.E. (Saipem).