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November 27, 2020

Keppel O&M lands multimillion-dollar FPSO deal

Singapore’s offshore rig and vessel builder Keppel Offshore & Marine (Keppel O&M) wholly owned subsidiary Keppel Shipyard won a contract from an undisclosed repeat customer.

By Himaja Ganta

Singapore’s offshore rig and vessel builder Keppel Offshore & Marine (Keppel O&M) wholly owned subsidiary Keppel Shipyard won a contract from an undisclosed repeat customer.

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Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The S$100m (approximately $75m) contract is for the fabrication, installation and integration work on a floating, production, storage and offloading (FPSO) vessel.

Keppel’s scope for the contract includes the fabrication and integration of topside modules, riser balconies and spread mooring support structures.

The company also noted that it would provide pre-commissioning and commissioning works to the customer.

Keppel Shipyard will commence pre-fabrication work on the topside components in the first quarter of the next year (Q1 2021).

Keppel O&M Conversions & Repairs managing director Chor How Jat said: “We are pleased to secure our 140th conversion project to help meet the world’s need for energy. As the world’s leader in FPSO conversion and integration projects, we have built up strong capabilities to add value to our customers’ projects and efficiently deliver high-quality FPSOs, while contributing to the circular economy with our conversion solutions.

“With the challenges posed by Covid-19, the health and safety of our workforce are paramount. We have put in place measures to safeguard our people and maintain our operations to ensure that each project entrusted to us is delivered as planned.”

The latest contract would not have any material impact on the net tangible assets of Keppel for the existing financial year.

In June, Keppel O&M signed a framework deed to defer the scheduled delivery of five jack-up rigs to Borr Drilling to 2022.

Last December, Keppel O&M subsidiary Keppel FELS delivered the KFELS B Class jack-up rig, Cantarell III, to a fully owned subsidiary of Grupo R through the signing of a sale and leaseback deal.

Related Companies

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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