Keppel Offshore & Marine said it has accrued S$340 million ($222.4 million) worth in contracts through its businesses in support of the oil and gas industry.

A statement said the jobs include the conversion of a floating storage and offloading vessel, or FSO, and the building, installation and integration of topsides of a floating production storage and offloading vessel, or FPSO. Building a production turret overhauling a “multi-service” semi-submersible are also recently in the order books.

The FSO conversion work is for M3nergy JDA Sdn Bhd and its ’89 Panamax Tanker.

The job includes these orderss: the fabrication and installation of an external turret mooring system; cargo offloading station; metering skid and heli-deck plus a lodging upgrade and new fire fighting and communication systems.

When completed in third-quarter 2009, the FSO will have storage for 546,000 barrels of oil and capacity for 20,000 bbls per day of condensate. It will operate in the Joint Development Area (JDA) off the east coast of Peninsular Malaysia for Carigali-PTTEPI’s Block B-17 field development project.

The internal turret job is for SBM Offshore Inc. and eventually BP’s Skarv FPSO and development off Norway.

The overhaul is a Prosafe order of Keppel Verolme’s for new entertainment, catering, offices and exercise space aboard the MSV Regalia accommodations rig due in second quarter 2009.

A fourth job is Keppel FELS Brasil’s in concerns SBM Offshore’s topsides from 2009 to commissioning in third-quarter of 2010.

It is understood Keppel will not be paid for much of the work before 2009.

Tags: Keppel Offshore & Marine Limited