23 Jul 2011

Keppel on track to complete FSO for Bumi Armada

Keppel Shipyard Ltd (Keppel Shipyard) is on track to complete the fast-track conversion of FSO Sepat, a floating production and storage (FSO) unit, for Bumi Armada Navigation Sdn Berhad (Bumi Armada).

With a storage capacity of 500,000 barrels of oil, FSO Sepat will be deployed in offshore Malaysia for the development of the Sepat field for PETRONAS Carigali Sdn Bhd.

Naming the vessel today was the Lady Sponsor Datin Aspalela Mohd Yusop, the spouse of Datuk Abdullah Karim, President of PETRONAS Carigali Sdn Bhd.

Mr Nelson Yeo, Managing Director of Keppel Shipyard, said, "We are pleased to have been entrusted with all of Bumi Armada's FPSO and FSO conversion projects to date. FSO Sepat is another conversion unit that Keppel is delivering to Bumi Armada this year. It follows shortly after our delivery of FPSO Armada TGT 1 in June. We are also grateful and honoured to be able to contribute to Petrofac and PETRONAS Carigali's oil and gas activities in Malaysia.

"The fast-track conversion of FSO Sepat was enabled by Keppel, Bumi Armada, Petrofac and Petronas' strong teamwork and shared commitment. I am pleased to inform that there has been no reportable lost-time incident on this project."

FSO Sepat had been converted from the tanker AMORE, and work at Keppel Shipyard is expected to complete in the third quarter of 2011. Keppel Shipyard's work scope on the FSO includes refurbishment and life extension works, fabrication and installation of the cargo offloading balcony and helideck, installation and integration of a 12-point spread mooring system, and the upgrading of accommodation facilities.

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For more information, please contact:

Media

Eva Ho
Deputy General Manager
Group Corporate Communications
Keppel Corporation
Tel: (65) 6413 6424
Email: eva.ho@kepcorp.com

Investors Relations

Chua Ying Ying
Assistant General Manager
Group Corporate Communications
Keppel Corporation
Tel: (65) 6413 6295
Email: yingying.chua@kepcorp.com

About Keppel Shipyard
Keppel Shipyard is a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), a wholly-owned company of Keppel Corporation Limited. Keppel O&M is a leader in offshore rig design, repair and construction, shiprepair and conversion and specialised shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards 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.