(EnergyAsia, April 11, 2012, Wednesday) — Singapore’s Keppel Shipyard Ltd said it has secured two floating production storage and offloading (FPSO) upgrading projects from its repeat customers SBM Offshore NV and Bumi Armada Berhad. The combined contract value of the two projects is S$170 million. (US$1=S$1.26).

Keppel said it will target to complete the refurbishment and upgrade of SBM Offshore’s FPSO Xikomba by the third quarter of 2013.

Leased by Italy’s Eni Angola SpA for 12 years to develop Angola’s offshore Block 15/06, FPSO Xikomba is jointly owned by SBM Offshore and Sociedade Nacional de Combustíveis de Angola EP (Sonangol), Angola’s national oil and gas company.

Bruno Chabas, SBM Offshore’s CEO, said:

“Long-term business partnerships are key to our performance, our ability to deliver and our ambition in furthering our lead in the FPSO market. We value our proven partnership with Keppel Shipyard. The award of the FPSO Xikomba is another milestone in this deep long-term relationship.”

Keppel Shipyard’s second project is to modify and upgrade Bumi Armada’s FPSO Armada Claire by the fourth quarter of 2013. Keppel will start work in the third quarter on the project which includes refurbishment and life extension works as well as installation and integration of topside modules.

Upon completion, FPSO Armada Claire will be deployed in the Balnaves field in north-western Australia.

Hassan Basma, Bumi Armada’s executive director and CEO, said:

“With the trust and collaboration of committed and capable business partners, we have grown and enhanced our fleet of quality FPSO vessels. The Armada Claire project is our tenth major collaboration with Keppel Shipyard, and we are confident that it will be professionally executed.”

Nelson Yeo, managing director of Keppel Shipyard, said

“We thank SBM Offshore and Bumi Armada for reinforcing their trust and confidence in us with these FPSO contracts. Drawing on our experiences from previous collaborations, we strive to continuously improve our performance as we move forward.”

Since 2000, Keppel has delivered 14 FPSO/FSO conversion projects to SBM Offshore. Keppel Shipyard’s ongoing projects with SBM Offshore include FPSO OSX 2, FPSO Cidade de Paraty and FPSO Cidade de Anchieta.

In 2011, Keppel Shipyard delivered FPSO Armada TGT 1 and FSO Sepat to Bumi Armada. It is presently working with Bumi Armada on the D1 FPSO conversion project.