Keppel to Operate Mexican Yard with PEMEX

MarineLink.com
Friday, October 04, 2013

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, Chow Yew Yuen at the Ministry of Foreign Affairs in Singapore, and witnessed by Singapore's Minister for Foreign Affairs and Minister for Law, K. Shanmugam and Mexico's Secretary for Foreign Affairs, José Antonio Meade Kuribreña.

The MOU signifies a landmark partnership between PEMEX, the world's fifth-largest crude oil producer, and Keppel O&M, the global leader in the construction of offshore drilling rigs, ship repair and the conversion of Floating Production Storage and Offloading (FPSO) vessels.

In a congratulatory message, Emilio Lozoya, CEO of PEMEX, said, "This MOU highlights PEMEX's commitment to increase oil and gas production in the long term by developing a sustainable offshore and marine industry in Mexico that can readily meet our needs. By partnering with the world's leading rig builder Keppel, we are confident that the shipyard will be a success and help to provide a wide array of solutions for the production of oil and gas. Mexico's proven reserves of oil and gas at the start of 2013 is almost 14 billion barrels of crude-oil equivalent and we believe that a significant number of shallow water and deepwater drilling rigs as well as FPSOs and FLNGs will be required to maximize production in the years to come."

Earlier this year, PEMEX unveiled investment plans of $25.3 billion for 2013, of which $20 billion will be targeted at upstream activities.

Tong Chong Heong, CEO of Keppel O&M added, "We have been a strong supporter of PEMEX's oil and gas program with some 19 projects delivered or on order for Mexico presently. This MOU reinforces Keppel O&M's Near Market, Near Customer strategy and places us in a strong position to capture opportunities from the continued growth of the Gulf of Mexico. Through our partnership with PEMEX, we will be able to tap each other's technological expertise and know-how to provide comprehensive world-class solutions for the Mexican market.

"The yard will not only provide local content to support the industry's growth in Mexico but also employment, training and skills development for the local workforce through Keppel O&M's training and development schemes."

PMI and Keppel O&M intend to establish a joint venture company (PMI-KOM JVC) to be the principal investment vehicle through which both parties would cooperate in various business opportunities that may be agreed upon. The first opportunity identified is the establishment of the yard to service the offshore oil & gas industry in Mexico.

To be located strategically in the modern Port of Altamira along the coast of the Gulf of Mexico, the proposed yard will help to further develop Mexico's offshore hydrocarbon potential, meeting both the growing needs of the local oil and gas industry and the international clientele operating in the Gulf.

Keppel O&M will leverage its proven expertise and operational track record in the management of the yard which will be able to service PEMEX's requirements in the offshore and marine construction and service sector, as well as independently pursue work from the private sector. To be developed in phases, the first phase will be to equip the yard to undertake certain portions of the work scope in the construction of six Keppel-designed KFELS B class jackup drilling rigs for PEP.

The total yard development cost will be around $400 million, with the first phase estimated at about $150 million.

Subsequent phases of the yard development would enable it to take in deep-draft semisubmersibles and drillships for repairs, undertake FPSO and Floating Liquefied Natural Gas (FLNG) vessel conversions, as well as fabricate topside modules and other offshore structures.

When all the phases are completed, the yard is expected to create up to 4,000 new direct jobs for the local community.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Asia Tankers-VLCC Rates Expected to Soften

MidEast rates slip from two-week high on June 28; raft of new ships and repaired vessels weigh on rates. Freight rates for very large crude carriers (VLCCs)

Boskalis Bags Aberdeen Offshore Windfarm Deal

Royal Boskalis Westminster N.V. (Boskalis) has been appointed the preferred Offshore Balance of Plant contractor by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

Gibdock Overhauls Solstad Cutter Propulsion System

Gibraltar’s Gibdock shipyard has completed an extensive package of work on Solstad Shipping’s Normand Cutter. The 127m long, 10,979grt construction support vessel

Shipbuilding

Tallink Christens LNG Ferry Megastar

A new LNG-driven fast ferry Megastar was christened in Meyer Turku shipyard for owner/operator Tallink Grupp. The environmentally sound ship was christened on

Icebreaker Launched for Sovcomflot

On June 30, 2016 a new icebreaking supply vessel (IBSV) was launched for Sovcomflot as part of a long-term agreement with Sakhalin Energy.   Due to be delivered in the fourth quarter of 2016,

Fincantieri: Silver Muse Launched in Sestri

“Silver Muse”, the new ultra-luxury cruise ship which Fincantieri is building for the shipowner Silversea Cruises, was launched today at Fincantieri’s shipyard in Genoa Sestri Ponente.

News

India's Iran Oil Imports Surge in June

India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows.   In the first half of 2016 India's Iran oil

Tallink Christens LNG Ferry Megastar

A new LNG-driven fast ferry Megastar was christened in Meyer Turku shipyard for owner/operator Tallink Grupp. The environmentally sound ship was christened on

Lerwick Welcomes its Largest Ever Cruise Vessel

June 30 was a big day for GAC UK’s Shetlands office, as Offshore Manager Adrian Henry welcomed the P&O Cruises ship Azura to the port of Lerwick, the islands’ capital and home to GAC’s local office.

Offshore Energy

Boskalis Bags Aberdeen Offshore Windfarm Deal

Royal Boskalis Westminster N.V. (Boskalis) has been appointed the preferred Offshore Balance of Plant contractor by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

Construction Begins on Johan Sverdrup Riser platform

The riser platform construction start was marked today at the Samsung Heavy Industries yard in South Korea. Project director for Johan Sverdrup Kjetel Digre (from right),

Boon, Non-executive Director of ST Engineering Resigns

Singapore Technologies Engineering Ltd (ST Engineering) today announced the resignation of Mr Quek Tong Boon as non-executive Director with effect from 1 July 2016.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1689 sec (6 req/sec)