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KEPPEL Corp said over the weekend that its subsidiary Keppel Shipyard is close to completing the conversion of the floating, production, storage and offloading (FPSO) vessel Armada Perdana for a repeat customer, Malaysia-based Bumi Armada Berhad.
A ceremony for the naming of the vessel was held at the shipyard last Saturday prior to the vessel's deployment in the Oyo field, 70km off the coast of Nigeria. It is expected to deliver its first oil in Q4 this year.
The vessel, which arrived in May last year, underwent fabrication, installation and integration of a 12-point spread mooring system, riser balcony, topside facilities and upgrade of accommodation and auxiliary support systems, said Keppel Corp.
It now has a storage capacity of one million barrels of oil with water and gas injection capabilities included in its topside. It is also capable of processing 45,000 barrels of oil per day.
Bumi Armada's chief executive and executive director Hassan Basma said that close collaboration with Keppel Shipyard over years has resulted in the timely conversion work: 'We have been able to fast-track the project, from winning the contract to completing the conversion in just 18 months.'
Keppel Shipyard's affiliation with Bumi Armada goes back to the last decade when it first converted the FPSO Armada Perkasa in 1997 for operation in the PM3 Field in Malaysia. It was upgraded further in 2007 for deployment in the Okoro Setu Field in Nigeria.
Keppel Shipyard is a wholly-owned subsidiary of Keppel Corporation, through Keppel Offshore & Marine, a leader in offshore rigs, ship-repair and conversion, and specialised shipbuilding.
Keppel Corp's group net profit for the first quarter of this year rose 9 per cent year-on-year to $285.3 million. The offshore and marine division's orderbook at end-March stood at $9.5 billion, with deliveries extending into 2012. The counter closed 11 cents higher at $7.10 on Friday.
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