Keppel Signs $81 Million in FPSO Conversion Contracts

fpso conversion keppel fels singapore
Keppel Shipyard converted the FPSO Capixaba for SBM in 2006, image: Keppel

SINGAPORE–Keppel Corp. Ltd. (BN4.SG) said Monday that its shipyard unit has secured three conversion contracts totaling S$103 million.

The contracts are from PTSC Asia Pacific Pte. Ltd., Perenco Group and BC Petroleum Sdn. Bhd., Keppel said in a statement to the Singapore Exchange.

Keppel Shipyard will convert a tanker to a Floating Production, Storage and Offloading unit for PTSC Asia Pacific, a joint venture between PetroVietnam Technical Services Corp. and Yinson Holdings Bhd.

The Perenco contract is to convert a tanker to a Floating Storage and Offloading unit and that from the BC Petroleum is for modifying and upgrading a tanker to an Early Production Vessel, according to the statement. It didn’t give the value of individual contracts.

 – Gaurav Raghuvanshi, Dow Jones Newswires