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Sembcorp Marine secures S$222m in offshore energy-linked contracts

Monday, October 20, 2014 - 08:00
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SEMBMARINE SLP (SLP) and Jurong Shipyard, subsidiaries of Sembcorp Marine, have secured offshore energy-related contracts valued at a combined S$222 million - ST PHOTO: SEMBCORP MARINE

SEMBMARINE SLP (SLP) and Jurong Shipyard, subsidiaries of Sembcorp Marine, have secured offshore energy-related contracts valued at a combined S$222 million.

SLP, 70 per cent owned by Sembcorp Marine, was awarded a contract to design and build the offshore substation platform for the Dudgeon Offshore Wind Farm. Under the terms of the contract, it will be responsible for the design, engineering, procurement, project management and construction of the platform's jacket substructure and topside.

Separately, Jurong Shipyard has been contracted by regular customer MODEC Offshore Production Systems (Singapore) to complete the repair and life extension and conversion of a very large crude carrier into a floating production storage and offloading (FPSO) vessel under the TEN Development Project.

The contracts are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Sembcorp Marine for the year ending December.