Keppel wins US$150 million contract in Kazakhstan

abarrelfullabarrelfull wrote on 26 Jul 2012 12:15

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Keppel Kazakhstan LLP (Keppel Kazakhstan), a unit of Keppel Corporation Limited through Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract estimated at US$150 million from Agip Kazakhstan North Caspian Operating Company N.V. (Agip KCO).

The contract is to fabricate pipe racks and build four barges. Upon completion, they will support the first phase development of the Kashagan oil field.

By far the world largest oil discovery in 30 years, the Kashagan field is expected to be developed over the next 16 years at approximately US$29 billion, and could yield up to 13 billion barrels of oil.

Mr Tong Chong Heong, Managing Director & Chief Operating Officer of Keppel O&M, said, “This contract in the Caspian Sea reflects the success of our near-market, near-customer strategy in strengthening our presence in Central Asia.

“Keppel Kazakhstan will be able to tap into the expertise and resources available in the Keppel Offshore & Marine Group, to deliver projects on time and within budget.”

Mr Bill Kee, Chief Executive Officer of Keppel Kazakhstan, said, “The contract signifies the start of a pioneer industry in Kazakhstan, creating employment and providing training opportunities for the Kazakhs.

“This is only the beginning of Keppel Kazakhstan’s involvement in Kashagan’s development programme. The contract will allow us to further develop our facility in line with project requirements and enhance our services for our customers.”

Keppel Kazakhstan complements its sister yard, Caspian Shipyard Company (CSC) in strengthening Keppel O&M’s presence in the Caspian Sea.

Keppel Kazakhstan is located in the seaport city of Aktau on the northeastern part of the Caspian Sea. It was set up in April 2003 to participate in and contribute to the emerging offshore oil and gas industry in the Kazakh Sector of the Caspian Sea.

The yard’s principal activities include the design, construction, conversion and repair of offshore drilling units and structures, specialised vessels such as tugs and supply boats, and the provision of offshore supply and logistics base.

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