Jurong Shipyard, a wholly-owned subsidiary of SembCorp Marine, has secured two conversion contracts worth a total of US$88 million.

The first contract involves the conversion of the 188,697 dwt tanker, the S.T. Polar Alaska, into a Floating Production Storage and Offloading (FPSO) vessel for Aker Contracting FP AS.

To be renamed FPSO Aker Smart 1 upon completion in 1Q 2008, modification works on the FPSO Aker Smart 1 involves the installation of an internal turret, three units of 5MW steam turbine generators and another three units of 5MV gas turbine generators and new process facilities, which include crude separation and gas compression and the upgrading of the entire piping and electrical systems.

On completion, FPSO Aker Smart 1 will be chartered to Reliance Industry Limited for deployment in the MA D6 field on the east coast of India. Designed to operate for 10 years without dry docking, FPSO Aker Smart 1 will be capable of processing 60,000 barrels of oil and 80,000 barrels of liquid per day and with a storage capacity of 1,300,000 barrels of oil.

The second contract involves the conversion and life extension of the 9,589 GT Scientific Research Vessel, Joides Resolution, into an IODP (Integrated Ocean Drilling Program) Scientific Ocean Drilling Vessel (SODV) for Overseas Drilling Limited.