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SINGAPORE: Keppel Offshore and Marine said that it has secured two contracts worth about S$165 million through its subsidiaries.
The first project, secured by Keppel Shipyard from repeat customer Petrobas Netherlands, is for the pre-conversion of a floating production storage and offloading vessel.
After its completion in the first quarter of 2011, the vessel will sail to Brazil for the rest of the conversion, which includes completion works of the topsides.
The second project involves the repair and modification of a semi-submersible pipelay vessel for Italian oil and gas contractor Saipem by Keppel Verolme.
The work on the second project is scheduled for completion in the first quarter of 2010, after which the vessel will be deployed for the Nord Stream project - a gas pipeline which will link Russia and the European Union via the Baltic Sea.
Keppel said the contracts are not expected to have material impact on the net tangible assets or earnings per share of the firm in the current financial year.
- CNA/sc
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