Keppel O&M bags floating production contracts worth S$75m 

KEPPEL Offshore & Marine (O&M), through its wholly-owned subsidiaries, Keppel AmFELS, Inc (Keppel AmFELS) and Keppel Shipyard Ltd (Keppel Shipyard), has been awarded contracts worth around S$75 million for the refurbishment and completion of 2 floating production units.

The first contract is by Keppel AmFELS with Salamanca FPS Infra, LLC for the refurbishment of a floating production unit to be operated by LLOG Exploration Offshore, LLC, a private exploration and production company in the United States.

The second contract is between Keppel Shipyard and MODEC Offshore Production Systems (Singapore) to support the completion of a floating production storage and offloading vessel.

Chris Ong, chief executive of Keppel O&M, said: “As the demand for energy increases and the market improves, we are committed to support the energy transition through our innovative solutions.”

The above contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation for the current financial year, said Keppel Corporation in a regulatory filing.

Shares of Keppel Corporation closed at S$6.96 on Monday (Aug 1), up S$0.08 or 1.16 per cent, before the announcement.