KS Investments Pte Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has entered into a shareholders agreement with Shell Eastern Petroleum, a part of Royal Dutch Shell, to form a joint venture company which will establish an LNG bunkering business in Singapore.
The joint venture’s principal business activities will be to supply LNG bunkering operations services in Singapore to ships and any other marine vessels in the Singapore port and other related services.
The shareholding of Keppel and Shell in the JVCO will be 50% and 50%, respectively.
In a separate announcement, Keppel Offshore & Marine said that it has also kept busy at its shipyards, as the company secured four contracts worth SGD 120 million (USD 89.1 million).
The first contract that Keppel Shipyard secured is from BW Catcher Limited, a subsidiary of BW Offshore, for the installation and integration of topside modules for a newbuild Floating Production Storage and Offloading (FPSO) vessel. Upon its completion, the FPSO will be deployed to the Catcher Field located in Central North Sea, UK, which is operated by Premier Oil.
The second contract is from SOFEC, Inc. (SOFEC) to fabricate an Internal Turret Mooring System for a Floating Storage and Offloading vessel that will operate in Maersk Oil’s Culzean Field in UK’s section of the North Sea. Fabrication of the turret is expected to be completed in the third quarter of 2017.
For the third contract, the company’s shipyard will carry out upgrading work to the pipelay vessel, Castorone, for Saipem Offshore Norway AS (Saipem), while the fourth contract was placed by Woodside Energy Ltd for the modification and upgrading of the FPSO vessel Ngujima-Yin to support the Greater Enfield Project.