As energy markets start to rebound, Keppel Shipyard Ltd. secured a Floating Production Storage and Offloading vessel (FPSO) conversion contract from SBM Offshore N.V. (SBM Offshore). The contract calls for a VLCC to be converted into an FPSO, to be deployed to the Liza field, located approximately 193km offshore Guyana in the Stabroek block. The shipyard's work scope includes refurbishment and life extension works, such as the upgrading of living quarters, fabrication and installation of spread mooring systems, as well as the installation and integration of topside modules. The converted FPSO will have a storage capacity of 1.6 million barrels of crude oil and is capable of producing up to 120,000 barrels of oil per day.