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Keppel Converts Tanker into FPSO

Maritime Activity Reports, Inc.

October 22, 2001

Keppel Shipyard, a division of Keppel Group, has successfully converted a 155,000dwt tanker into a Floating Production Storage and Offloading Vessel (FPSO) for ProSafe. The vessel, previously known as White Sea, was named Espoir Ivoirien by Mrs Agnes Monnet, wife of the Minister of Mines and Energy, Côte d’Ivoire, at a ceremony at Keppel Shipyard this afternoon. The conversion of Espoir Ivoirien, included the construction and installation of an internal turret and the installation and integration of the complete topside equipment package. Preparatory work for the conversion began in Subic Shipyard which carried out surface treatment, repair, blasting and painting.

The vessel will be under a 10+10-year lease contract to Ranger Oil Côte d’Ivoire SARL (ROCIS), a subsidiary of CNRL and will be deployed for operations in the Espoir Field Development, located off Côte d’lvoire in West Africa.

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