Keppel Wins $150 Million in FPSO Conversion Contracts

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Image (c) Rob Almeida/gCaptain

Keppel Shipyard announced today the signing of two Floating Production Storage and Offloading (FPSO) conversion contracts worth a combined value of S$190 million (USD $150 million). These contracts are from SBM Offshore N.V. (SBM Offshore) and M3nergy Offshore Limited (M3nergy Offshore).

Once constructed, SBM Offshore’s new FPSO will be installed at Shell’s Stones field in the Gulf of Mexico and will become the world’s deepest production facility with a disconnectable buoy.

The yard’s work scope for the Stones project includes refurbishment and life extension works; upgrading of living quarters; fabrication and installation of the internal disconnectable buoy BTM system and topside module supports; as well as the installation and integration of topside modules.

The FPSO design has a processing facility capacity of 60,000 barrels of oil per day (bopd) and 15 mmscfd of gas treatment and export. The converted FPSO will be able to store 800,000 barrels of crude oil and its total topsides weight will reach 7,000 tonnes.

Keppel notes this is their 20th major project for SBM Offshore since 2000.

M3nergy Offshore’s converted FPSO, scheduled for delivery in Q2 2014, will eventually be installed at the Bukit Tua Field, 35 kilometers north of Madura Island, offshore Indonesia, under charter by PC Ketapang II Ltd.

For this project, Keppel Shipyard will undertake refurbishment and life extension works; fabrication and installation of new structures, piping systems, spread-mooring system; upgrading of the living quarters; as well as the installation and integration of the topsides process modules.

The FPSO will have a production capacity of up to 25,000 barrels per day of liquids and a storage capacity of up to 630,000 barrels.