24 Nov 2010

Keppel & Nakilat launches premier marine & offshore facility in Qatar

Nakilat-Keppel Offshore & Marine (N-KOM), Qatar's premier offshore and marine facility jointly developed by Keppel Offshore & Marine Limited (Keppel O&M) and Qatar Gas Transport Company Ltd (Nakilat), was launched yesterday by the Emir of Qatar, His Highness Sheikh Hamad bin Khalifa Al Thani, and Singapore's Minister for Trade and Industry, Mr Lim Hng Kiang.

On this occasion, N-KOM strengthened its credentials to be a leading shipyard in the Middle East with the signing of a three year fleet servicing agreement with Shell International Trading and Shipping Company Limited (STASCo) for ship repair services. N-KOM further signed a memorandum of understanding with Gulf Drilling International (QSC) and also entered into letters of intent with, Idemitsu Tanker, Mitsui O.S.K. Lines, NYK Line, Kawasaki Kisen Kaisha ("K" Line), Iino Kaiun Kaisha (Iino Lines) and Marine Contracting Association (MARCAS) to provide shipyard and drydocking services for their vessels.

Mr Choo Chiau Beng, CEO of Keppel Corporation and Chairman of Keppel O&M said, "When we embarked on this landmark collaboration with Nakilat in 2007, we had envisioned that it would be a best-in-class shipyard, and the preferred partner for marine and offshore solutions in the region.

"As N-KOM opens its doors to the world, we are on the journey to transform this vision into reality. We would like to thank our valued customers for their confidence in us with the signing of these fleet servicing arrangements. We look forward to delivering our projects safely, on time and within budget. This is Keppel's quality hallmark, which we bring close to our customers and markets, wherever they are."

Singapore Minister for Trade and Industry Lim Hng Kiang remarked, "The launch of N-KOM today is a result of the strong desire by Singapore and Qatar to forge greater collaboration, and the years of hard work between our countries and companies.

"This positive development reflects how Singaporean companies like Keppel can bring their successful operations into the Middle East. With Qatar's ambition and commitment to grow its energy sector, there are many opportunities for Singapore and Qatar companies to collaborate. I look forward to International Enterprise (IE) Singapore to continue its support of Singapore companies to take root in Qatar, as it did successfully for Keppel."

As part of the inauguration, N-KOM was also presented with certification from DNV (Det Norske Veritas) for its Integrated Management System covering ISO 9001 for Quality, OHSAS 18001 for Occupational Health & Safety and ISO 14001 for Environmental Management.

His Excellency Abdullah Bin Hamad Al-Attiyah, Deputy Premier and Minister of Energy and Industry for the State of Qatar and Chairman, Nakilat, said, "The Nakilat Shipyard combines world-class facilities with outstanding international partners which will establish Qatar as an internationally recognised centre of excellence in shipbuilding, repair and conversion along with new capabilities in industrial fabrication and construction".

Mr. Muhammad A. Ghannam, Managing Director of Nakilat and Chairman of N-KOM, added, "We chose to partner Keppel because they are the leaders in their field and with their proven experience, expertise, and the Can-Do spirit, N-KOM will grow from strength to strength. We are confident that with the leadership and endorsement of His Highness Sheikh Hamad bin Khalifa Al Thani, this landmark shipyard will establish Qatar as a centre of excellence in the marine and offshore industry."

As part of a global network of 20 yards, N-KOM replicates the Keppel's proven management systems, and will further leverage the Group's experience, expertise and the resources to provide value-added offshore & marine solutions to meet the needs of an international clientele.

The above mentioned agreement, memorandum of understanding and letters of intent are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.

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N-KOM
Nakilat-Keppel Offshore & Marine (N-KOM) is a 43-hectare world-class shipyard facility jointly developed by Nakilat (80%) the world's leading transporter of liquefied natural gas (LNG), and Keppel Offshore & Marine (20%), the global leader in offshore rig design and construction, ship repair and conversion, and specialised shipbuilding.

Located at the north-eastern tip of Qatar within the Ras Laffan Industrial City and close to the LNG terminals and the Ras Laffan Port, N-KOM boasts some of the most technologically advanced equipment for increased efficiency, quality and safety. The yard is designed with optimal flexibility to undertake the entire spectrum of repair, conversion and construction for a wide range of marine and offshore vessels and structures.

Nakilat
Qatar Gas Transport Company Ltd. (known as "Nakilat", which means carriers in Arabic) is a Qatari-listed shipping company established by the State of Qatar to own, operate and manage LNG vessels and to provide shipping and marine-related services to a range of participants within the Qatari hydrocarbon sector. Nakilat is an integral component of the supply chain of some of the largest, most advanced energy projects in the world undertaken by Qatar Petroleum, Qatargas, RasGas and their joint venture partners for the State of Qatar.

Nakilat was established in 2004 and is a joint stock company owned 50% by its founding shareholders and 50% by the public. Nakilat owns 54 LNG vessels, making it the largest LNG ship owner in the world. Our fleet of vessels transport LNG produced from Qatar's North Field, the world's largest non-associated gas field with approximately 15% of the world's total proven reserves to global markets. These vessels, ordered from Korean shipyards, incorporate the latest technology for safe, reliable and cost-effective transportation of LNG over many years, and are the result of several years of engineering design work and testing.

Keppel Offshore & Marine
Keppel O&M, a wholly-owned subsidiary of Keppel Corporation Limited, is a global leader in offshore rigs, ship repair and conversion and specialised shipbuilding. Keppel O&M's near market, near customer strategy is bolstered by a global network of 20 yards and offices in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions.

Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner for solutions for the offshore and marine industry.

For further information contact:

Qatar
Roy Tan
Keppel Group Corporate Communications
Tel: (974) 3393 7396
Email: roy.tan@kepcorp.com

Singapore
Wong Chai Yueh
Keppel Group Corporate Communications
Tel: (65) 6413 6450
Email: chaiyueh.wong@kepcorp.com