16 Jul 2011

Keppel Shipyard on track to deliver FPSO Aseng for Equatorial Guinea

Keppel Shipyard Ltd's (Keppel Shipyard) conversion of the FPSO Aseng is on track to complete. The FPSO will be operated by Aseng Production Company Ltd, a joint venture by SBM Offshore and Compania Nacional de Petroleo de Guinea Ecuatorial (GEPetrol), the national oil company of Equatorial Guinea.

Chartered by Noble Energy for the development of the Aseng field in offshore Equatorial Guinea, FPSO Aseng is capable of processing 80,000 barrels of oil per day and storing approximately 1.7 million barrels of oil.

HE Marcelino Owono Edu, Minister of Mines, Industry and Energy of Equatorial Guinea, witnessed the naming of the FPSO by his daughter, Señorita Doña Ayingono Owono Nchama, at Keppel Shipyard today.

Mr Tony Mace, Managing Director and CEO of SBM Offshore, commented, "We are honoured to be able to contribute to the growth of Equatorial Guinea's oil and gas industry. Through the strong teamwork between SBM and Keppel Shipyard, we add yet another quality vessel to our fleet of FPSOs."

Mr Tong Chong Heong, CEO of Keppel Offshore & Marine added, "Keppel is committed to provide value-added solutions and reliable services to our customers. With safety as our top priority, we have exercised a focused approach to ensure that the needs and expectations of FPSO Aseng's stakeholders are met. Working closely with our partners on this project, we are taking strides towards a quality delivery."

Keppel's work scope on FPSO Aseng includes refurbishment and life extension works, upgrading the accommodation facilities, installing and integrating the topsides as well as fabricating and integrating the internal turret.

Since 2000, Keppel and SBM have completed 13 FPSO/FSO conversion projects together. FPSO Aseng is the second FPSO project which Keppel Shipyard and SBM are delivering for Equatorial Guinea.

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For more information, please contact:

Media

Eva Ho
Deputy General Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6424
Email: eva.ho@kepcorp.com

Investors Relations

Chua Ying Ying
Assistant General Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6295
Email: yingying.chua@kepcorp.com

About Keppel Shipyard

Keppel Shipyard is a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), a wholly-owned company of Keppel Corporation Limited. Keppel O&M is a leader in offshore rig design, repair and construction, shiprepair and conversion and specialised shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner for solutions for the offshore and marine industry.

About SBM Offshore

SBM Offshore N.V. is the management holding company of a group of international companies, working as suppliers to the offshore oil and gas industry on a global basis.

SBM Offshore's present activities include the engineering, supply, and offshore installation of Single Point Mooring (SPM) systems for offshore loading and unloading of vessels or the permanent mooring of offshore oil production and/or storage vessels, as well as the turnkey supply of complete floating facilities for the production, storage, and export of crude oil and gas. The latter comprise Floating Production Storage and Offloading systems (FPSOs), Floating Storage and Offloading systems (FSOs), Tension Leg Platforms (TLPs), Floating Production Units (FPUs) of all types, including both monohull and semi-submersible, as well as self-elevating, Mobile Offshore Production Units (MOPUs).

In addition to the supply of systems on a turnkey basis, the Company is also in the business of owning and operating the above mentioned Floating Production and/or Storage and Offloading systems.