Yinson has awarded Singapore’s Keppel Offshore & Marine conversion work on a floating production, storage and offloading (FPSO) vessel meant for Eni’s Offshore Cape Three Points Block (OCTP), offshore Ghana.
The award is one of four the company announced on 29 December said to be worth a combined US$88.4 million (S$125 million).
Conversion work for the FPSO will commence in Q1 2016. Keppel says the work scope includes modification work, new equipment installation, complete with associated piping, electrical and instrumentation systems, as well as installation and integration of the FPSO process topsides. In April, Kongsberg Maritime entered into a $26.5 million contract to supply a complete electrical, instrument and telecom solution, including e-house, for the OCTP FPSO. In February, Sevan Marine subsidiary KANFA was chosen for the engineering, procurement and construction of four process modules for the FPSO.
Eni awarded Malaysia’s Yinson Holdings a $2.5 billion FPSO charter and operation contract for the OCTP FPSO back in January 2015. The contract covers the charter, operation and maintenance of an FPSO facility for 15 years, with five yearly extension options. The FPSO is expected to start operations in the OCTP block, in the Tano basin, about 60km offshore Ghana, in 2017. The OCTP block is operated by Eni Ghana (47.2%). Eni’s joint venture partners are Vitol Upstream Ghana Ltd (37.8%) and the Ghanaian state-owned Ghana National Petroleum Co. (15%), with the option for an additional 5%.
Other wins for Keppel yards
Keppel O&M’s Singapore yard also won a conversion contract for a LNG floating storage vessel from Bumi Armada’s subsidiary Armada Floating Gas Storage. The FSU is scheduled to be completed in Q3 2016, and will operate at the Delimara LNG Regasification Terminal in Malta.
In Brazil, Keppel’s BrasFELS shipyard in Rio de Janeiro secured a FPSO integration contract from MODEC for the Cidade de Caraguatatuba MV27 vessel. The FPSO will be deployed at Petrobras’ Lapa field in the Santos Basin. Keppel says the vessel will depart from Keppel Shipyard and will arrive at BrasFELS in Q2 2016. Analysts Simmons & Co. reported in August that the firm expects first oil from the Lapa field to be achieved by Q4 2016.
The fourth contract awarded to Keppel, was through its Caspian Shipyard in Baku, Azerbaijan. The yard secured a barge enhancement contract from BP for its Shah Deniz gas field. The Azerbaijan yard will be tasked with strengthening the steel structure of the hull for the STB-1 vessel, a purpose-built jacket transportation and launch barge. Keppel says this is the third time the Caspian Shipyard has been chosen to carry out refurbishment or enhancement works for the STB-1 vessel. Once the hull strengthening is complete, the vessel will be deployed to transport and launch two jackets for the Shah Deniz Stage 2 development.
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