KrisEnergy awards contract to Keppel Shipyard for flagship Cambodia oil project

12 Nov 2018 2131 | Business & Trade Fairs

KrisEnergy Ltd’s (KrisEnergy) wholly-owned subsidiary, SJ Production Barge Ltd, has contracted Keppel Shipyard Ltd (Keppel Shipyard) for the modification and upgrading of its production barge for the Apsara oil development located in the Block A concession.

The Apsara oil field is Cambodia’s first hydrocarbon development. The value of the contract is approximately $21.7 million, a portion of which will be on deferred payment terms.

Keppel Shipyard’s scope of work on the production barge includes installation of a power generation module, Electrical House, new accommodation units and other refurbishment works.

When completed by the third quarter 2019, the production barge will be capable of processing up to 30,000 barrels of fluid per day, and equipped with gas, oil and water separation facilities.

Brian Helyer, vice president operations for KrisEnergy, said “this is a milestone oil development project for Cambodia and with the support of experienced and capable partners, we believe we will effectively develop the flagship Block A asset for the benefit of Cambodia as well as our stakeholders.”

Keppel Shipyard is a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M).

Chor How Jat, managing director (Conversions and Repairs) of Keppel O&M and managing director of Keppel Shipyard, said, “With a strong track record in refurbishment, modification and upgrading projects, Keppel Shipyard is well-positioned to engineer and execute a broad range of solutions for a variety of vessels.

“The new contract from KrisEnergy marks our first project together since Keppel O&M’s appointment earlier this year as its preferred partner for a comprehensive suite of offshore oil and gas solutions.”