29 Oct 2002

Keppel wins S$25 million repeat swamp barge order from PT Apexindo

Keppel Corporation Limited, through its offshore unit in Keppel Offshore & Marine Ltd (Keppel O&M), has clinched another contract to build a swamp barge from repeat customer, PT Apexindo Pratama Duta Tbk (PT Apexindo).

The S$25 million contract for the swamp barge, Yani, is the third contract PT Apexindo has awarded to Keppel FELS Ltd.

The Indonesian drilling contractor, who recently obtained a public listing on the Jakarta Stock Exchange, has earlier awarded Keppel with two other contracts, one for the new construction of swamp barge Raisa, and another for the repair and refurbishment of swamp barge Maera.

Said Mr Tong Chong Heong, Managing Director and Chief Operating Officer of Keppel O&M, “We are very pleased that PT Apexindo has entrusted us with the construction and refurbishment of their swamp barge fleet.

“We clinched the first contract on the Raisa through a competitive bid put together as a result of the integration of our offshore and marine business. We are able to combine our expertise in rig design, project management and shipbuilding skills as an integrated entity, and offer the best price and services to our customers.”

The construction of Raisa is seeing good progress and the barge was recently launched on 22 October 2002. Maera’s six-month refurbishment is into its third month in Keppel FELS. Both barges are scheduled for delivery in the first quarter of 2003 for deployment in the Tunu Field of East Kalimantan for TotalFinaElf Indonesie.

President Director of PT Apexindo Mr Hertriono Kartowisastro said, “We have always believed in Keppel’s cost competitiveness and world-class services. I am happy that our projects in Keppel are all in good progress and I am confident that we will receive quality swamp barges for our drilling activities in East Kalimantan.”

Construction of Yani will take close to eight months, and delivery is scheduled for May 2003. Yani will be deployed for TotalFinaElf Indonesie in Tunu Field, East Kalimantan for period of three years.

The construction of the 226-ft swamp barge will involve detailed engineering, fabrication and procurement as well as installation of the owner’s supplied equipment. Upon completion, the barge will have a drilling depth capability of 7,600m (25,000 ft).

PT Apexindo Pratama Duta Tbk, a subsidiary of PT Medco Energi Internasional Tbk, is the first drilling contractor to be listed on the Jakarta Stock Exchange. The company specialises in both onshore and offshore activities. It owns 12 onshore drilling rigs after merging with PT Medco Antareja in December 2001. PT Apexindo currently owns and operates two semi-submersible swamp barges contracted by TotalFinaElf Indonesie and one jack-up rig in the Middle East.

Keppel Offshore & Marine is a leader in offshore rigs, ship conversions & repair and specialised shipbuilding. It is the world leader in the design and construction of jack-up drilling rigs, having built most of the world’s jack-ups. It is also a leader in FPSO/FSO conversions and ship repair, and has reputed expertise in the building of specialised tugboats and supply vessels.

The Group has a network of 15 yards worldwide in Singapore, USA, Brazil, Azerbaijan, Philippines, UAE, The Netherlands and Norway.