Singapore benefits from global FPSO vessel demand

Offshore staff

NEW YORK – Orders for FPO and FPSO conversions have work booming in Singapore concludes GBI Research. The report finds about 70% of the global FPSO construction work is being done in Singapore in addition to the regular ship repair work usually in progress.

Keppel shipyard has three conversion contracts worth $82 million, one each from Petro Vietnam Technical Services (PTSC) Asia-Pacific Pte Limited, Perenco Group, and BC Petroleum.

PTSC has contracted the shipyard to convert a tanker into a FPSO, to be deployed in the Thang Long and Dong Do oil fields in the Cuu Long basin offshore of Vietnam, with a scheduled completion date of late 2013.

The contract with Perenco involves the conversion of a tanker into an FSO unit to be deployed in the Lucina field offshore of Gabon in 2013.

The contract with BC Petroleum involves the conversion of a tanker into an Early Production Vessel (EPV) to be deployed in the Balai Cluster oil fields in offshore Malaysia.

Keppel is already engaged in six FPSO and FSO contracts.

12/04/2012

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