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KEPPEL SECURES CONTRACTS FROM REPEAT CUSTOMERS

Tuesday, July 16, 2019 

Keppel Offshore & Marine Ltd (Keppel O&M) has through its wholly-owned subsidiaries, Keppel FELS and Keppel Shipyard, secured contracts from repeat customers worth approximately S$130 million for a newbuild dredger and the modification of a Floating Production Storage and Offloading vessel (FPSO).

Chris Ong, CEO of Keppel O&M, said: "We are pleased to secure these contracts from repeat customers as it reflects the market's confidence in Keppel O&M's customised solutions for newbuild vessels and FPSO conversions. This is the third newbuild dredger for Van Oord and the third FPSO project for Yinson. We are able to leverage the experience of working closely with our customers as well as our engineering and construction expertise to further improve productivity on their projects."

The first contract is between Keppel FELS and Van Oord to build a high-specification Trailing Suction Hopper Dredger (TSHD). This follows from an option granted to Van Oord based on earlier contracts entered in May 2018 for two similar dredgers.

Expected to be completed in 1Q 2022, the TSHD will have a hopper capacity of 10,500m3. The dredger will be built to BV class and will be LNG ready.

Jaap de Jong, Director, Ship Management Department at Van Oord, said, "The Keppel team has demonstrated strong project management expertise as well as firm commitment for the timely delivery and safe execution of our current projects. We are thus pleased to extend our partnership with this additional dredger. These dredgers are part of our strategic fleet renewal plan, and we look forward to their delivery between 2021 and 2022."

The TSHD is equipped with a climate control system which utilises the vessel's existing cooling and heating sources to recycle energy, as well as automation systems which send production data to the shore support centre for processing. The dredger will be certified with the BV Green Passport and Clean Ship notations.

The second contract is between Keppel Shipyard and Yinson Nepeta Production for the fast-track modification and upgrading of FPSO Allan. Keppel Shipyard's scope of work includes refurbishment and life extension works, fabrication and installation of a new riser balcony, spread mooring system and helideck, as well as modification of the vessel's topsides and marine systems.

Eirik Barclay, CEO of Yinson Offshore Production, said: "We have chosen to partner with Keppel Shipyard for this fast-track upgrade project just as the market is showing a positive trend with an increasing number of both project awards and tenders. We very much look forward to working with Keppel on this project and are confident that they, once again, can provide a high-quality, safe and on-time delivery to Yinson."

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