› Keppel Offshore & Marine 
Keppel FELS
Keppel Shipyard
Keppel Singmarine

The Philippines
Keppel Philippines Marine, Inc

Keppel Nantong Shipyard


Keppel AmFELS

Keppel FELS Brasil


Nakilat-Keppel Offshore & Marine

26 Feb 2013

Keppel secures S$200 million in contracts from repeat customers

Keppel Offshore & Marine Ltd's (Keppel O&M) subsidiaries - Keppel FELS Brasil S.A. (Keppel FELS Brasil) and Keppel Shipyard Ltd (Keppel Shipyard) - have secured two contracts worth S$200 million from repeat customers.

Keppel FELS Brasil's contract is with MODEC and Toyo Offshore Production Systems Pte Ltd (MTOPS), a joint-venture company between MODEC, Inc. and Toyo Engineering Corporation (TOYO), to integrate the topside modules of a Floating Production Storage and Offloading (FPSO) unit. This project will be carried out at BrasFELS, Keppel FELS Brasil's yard in Angra dos Reis, Rio de Janeiro, Brazil.

Over in Singapore, Keppel Shipyard has been engaged by SBM Offshore N.V. (SBM Offshore) to fabricate an internal turret for a newbuild FPSO, which will be installed in the Ichthys Field, in the Browse Basin, offshore of Western Australia.

Mr Tong Chong Heong, Chief Executive Officer of Keppel O&M, shared, "We are pleased to be selected by our customers for repeat projects as these are strong affirmations of the quality of our services. BrasFELS and MTOPS' first FPSO project was delivered safely and 19 days ahead of schedule; the second project is underway and on track for delivery in 2Q 2014. Keppel Shipyard has collaborated with SBM Offshore on some 17 major conversion and fabrication projects.

"With good rapport and understanding between our yards and their customers, we are confident that both the MODEC FPSO and Ichthys FPSO internal turret projects will be completed to high satisfaction."

The FPSO, a project by MODEC and its partner Schahin Group, has been chartered for operations offshore Brazil for 20 years. Integration works for the FPSO will take place from 3Q 2014 to 3Q 2015. The completed unit will have a production capacity of 150,000 barrels of oil per day and storage capacity of 1,600,000 barrels of oil.

Meanwhile, Keppel Shipyard's work on the 6,800-tonne Ichthys FPSO turret is scheduled to complete by Q3 2014.

The Ichthys FPSO turret forms a part of the Ichthys LNG Project, which is a joint venture between the field operator INPEX group companies, TOTAL group companies and other participants. The Ichthys LNG Project is expected to produce 8.4 million tonnes of liquefied natural gas (LNG) and 1.6 million tonnes of liquefied petroleum gas (LPG) per annum, along with approximately 100,000 barrels of condensate per day at peak. Gas from the Ichthys Field will undergo preliminary processing offshore to remove water and raw liquids, including condensate, before being exported to onshore processing facilities in Darwin via an 889km pipeline.

Keppel Shipyard's ongoing projects for SBM Offshore are the conversion of FPSO OSX-2 for Brazil as well as modification and upgrading of FPSO N'Goma for Angola. SBM Offshore is also working with Keppel Singmarine Pte Ltd on the newbuilding of a multi-purpose dive support construction vessel.

The above contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.

- End -

 For more information, please contact:


Lee Wan Jun
Senior Executive
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6423 / HP: (65) 8363 5585

Investor Relations

Ivana Chua
Senior Manager
Group Corporate Communications
Keppel Corporation Limited
Tel: (65) 6413 6436


About Keppel Offshore & Marine
Keppel Offshore & Marine Ltd (Keppel O&M) is a global leader in offshore rig design, construction and repair, ship repair 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, Keppel O&M aims to be the provider of choice and partner for solutions for the offshore and marine industry.

About Keppel FELS Brasil
Keppel FELS Brasil S.A. is a wholly-owned subsidiary of Keppel Corporation Limited (Keppel Corporation) through Keppel O&M.

It operates BrasFELS yard in Angra dos Reis, which is the most comprehensive shipyard in Latin America. Established in 2000, the yard has delivered three mammoth floating production units, P-52, P-51 and P-56. It has also completed the conversion of the Floating Production Storage and Offloading (FPSO) unit P-48, and fabrication and integration works for FPSO P-57 and FPSO Cidade de Sao Paulo. The yard's ongoing projects include the P-61 Tension Leg Wellhead Platform (TLWP) for the Papa-Terra field in Brazil's Campos Basin and six DSSTM38E semisubmersibles for Sete Brasil Participações S.A. In addition, it is undertaking the FPSO projects P66, P-69, FPSO Cidade de Paraty and FPSO Cidade de Mangaratiba.

About Keppel Shipyard
Keppel Shipyard Ltd (Keppel Shipyard) is the trusted industry name for the repair, conversion and upgrading of a diverse range of vessels. It is a leader in the conversion of Floating Production Storage and Offloading (FPSO), Floating Storage and Offloading (FSO) and Floating Storage and Re-gasification Units (FSRU).

Keppel Shipyard is a subsidiary of Keppel O&M, a wholly-owned company of Keppel Corporation.

MODEC is a general contractor specialising in engineering, procurement, construction and installation of Floating Production Systems including Floating Production Storage and Offloading (FPSO) vessels, Floating Storage and Offloading (FSO) vessels, Tension Leg Platforms (TLPs), Production Semi-Submersibles, Floating LNGs (FLNGs), Mobile Offshore Production Units (MOPUs), and other new technologies which will meet the challenges of various types of gas production floaters. MODEC also provides Floating Production System operation and maintenance services around the world.

About Schahin Group
The Schahin Group is a Brazilian, family-owned set of companies engaged in engineering and construction and oil & gas activities. The Schahin Group has been active in the market for over 45 years. It has a significant presence in drilling services and has been expanding into production services. The Group's ongoing growth and diversification of its business activities are the result of the constant incorporation of technological innovations, investment in human resources, and awareness of new business opportunities.

About SBM Offshore
SBM Offshore delivers offshore energy systems on a lease or sale basis to our clients worldwide through in-house engineering and project management expertise. Our activities include the design, supply, and offshore installation of facilities for the production, storage, and export of crude oil and gas, mainly Floating Production Storage and Offloading (FPSO) systems. SBM Offshore N.V. is an AEX (Amsterdam stock exchange) listed company.