CFA Society Singapore
SINGAPORE (Nov 9): Keppel Shipyard, the wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has won a production barge upgrade contract worth about $30 million for the modification and upgrading of a production barge for KrisEnergy’s wholly-owned subsidiary, SJ Production Barge.
Under the terms of the contract, Keppel Shipyard’s scope of work will include installing a power generation module, Electrical House, new accommodation units, and other refurbishment works for the production barge.
When completed in or around 3Q19, the production barge will be capable of processing up to 30,000 barrels of fluid per day, and equipped with gas, oil and water separation facilities.
It will be deployed in the Apsara oil field, which lies in Block A of the Khmer Basin in the Gulf of Thailand. The field is Cambodia’s first hydrocarbon development.
“With a strong track record in refurbishment, modification and upgrading projects, Keppel Shipyard is well-positioned to engineer and execute a broad range of solutions for a variety of vessels,” says Chor How Jat, Managing Director (Conversions and Repairs) of Keppel O&M and Managing Director of Keppel Shipyard.
“The new contract from KrisEnergy marks our first project together since Keppel O&M’s appointment earlier this year as its preferred partner for a comprehensive suite of offshore oil and gas solutions,” he adds.
Shares in Keppel Corp closed 1 cent lower at $6.20 on Friday.