Keppel
Offshore & Marine secures S$172 million contracts
Posted: 24 February 2004
Keppel Offshore & Marine Ltd (Keppel O&M) secured a total
of S$172 million worth of contracts through its wholly owned subsidiaries,
Keppel Singmarine Ltd and AMFELS in USA.
Keppel Singmarine, a specialised shipbuilder, will build four Anchor
Handling Tug/ Supply (AHTS) vessels for European based company,
Groupe Bourbon and four harbour tugs for Keppel Smit Towage.
Deliveries of the eight vessels are slated progressively between
the third quarter of 2004 and first quarter 2006.
With these contracts, Keppel Singmarine has a current order book
of 20 vessels, effectively positioning the Company as a leading
builder of offshore support vessels in the world. The company has
built more than 300 vessels since the early 1970s.
Said Mr Charles Foo, Chairman of Keppel Singmarine, “These
are contracts from our repeat customers. Our track record for on
time deliveries of products and services has earned us the trust
and satisfaction of these regular customers.
“Coupled with our excellent Health, Safety and Environment
record, we are poised to be a provider of choice to our worldwide
clientele.”
Groupe Bourbon has a fleet of over 200 vessels offering clients
customised services in offshore oilfields, in towage and assistance
services and in dry bulk transport. Keppel Smit Towage is a joint
venture between Keppel and Smit International Singapore. The company
operates a complete spectrum of towage, and support services.
Meanwhile, Keppel O&M’s yard in the United States, AMFELS,
won a contract to upgrade a jackup rig for repeat customer, ENSCO
Offshore Company (ENSCO).
Scheduled for delivery in the fourth quarter of 2004, Ensco 68
will be converted from a slot to cantilever jackup rig, with leg
extension and capability enhancement.
ENSCO, headquartered in Dallas, Texas, provides contract drilling
services to the international petroleum industry.
Keppel O&M, which has a network of 16 yards worldwide including
the Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Kazakhstan,
Middle East and the North Sea, is a wholly-owned subsidiary of Singapore-listed
Keppel Corporation.
The contracts secured are not expected to have any material impact
on the net tangible assets and earnings per share of Keppel Corporation
for the financial year ending 31 December 2004.
For more further information see www.kepcorp.com
Posted by Richard Price,
Editor Pipeline Magazine
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