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Keppel inks FPSO contracts with BW Offshore and SBM

Article-Keppel inks FPSO contracts with BW Offshore and SBM

Photo: Keppel O&M Keppel Shipyard. from the air
Keppel Offshore & Marine (Keppel O&M) has bagged FPSO projects from BW Offshore and Single Buoy Moorings (SBM) worth around SGD250m ($180.3m).

The contracts are for integration work to be carried out to be carried out for Keppel Shipyard.

The contract with BW Offshore is for installation and integration works of about 43,000 tons of topside modules, deck equipment and the turret mooring system, and commissioning support on a newbuild FPSO hull. The newbuild hull is expected to arrive in Singapore around mid-2023 with delivery in H2 2024.

The other contract with SBM as well as well as a joint-venture company between SBM and McDermott to undertake the fabrication, installation, and integration of topside modules, and support on commissioning work for an FPSO project.

Work is expected to start in the second half this year with the hull arriving in first half 2023, and delivery in second half 2024.

Chor How Jat, Managing Director (Conversions & Repairs), Keppel O&M, said, “Despite a volatile market, we are pleased to be awarded contracts from our longstanding customers as it is a testament to the partnerships that we have built up over decades of collaboration.

“We are seeing signs of fundamental improvement in the market, and are well-positioned to team up with customers to provide innovative, reliable, quality, and value-added solutions.”

Keppel O&M has endured a difficult time since the collapse of the oil price in 2014. It is set to merge with rival Sembcorp Marine with an agreement on terms for the combination announced last month. The yet to be named merger entity aims to focus on the offshore renewables and clean energy markets.

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