Singapore Corporate News - 27 Nov 2007

Keppel wins $100m contract

KEPPEL Corporation, the world's largest builder of offshore oil rigs, has just won a $100 million contract to convert a very large crude carrier (VLCC) into the world's first floating drilling, production, storage and offloading facility (FDPSO).

The contract was awarded by the Singapore arm of Norway's Prosafe Group to Keppel subsidiary, Keppel Shipyard.

Keppel will convert the VLCC into an FDPSO with a moonspool used for drilling purposes, and will also include an oil-drilling derrick. The facility is expected to be ready by the end of next year.

AusGroup wins A$16m deal for gas plant

ENERGY and resources specialist AusGroup Ltd said it has won a contract worth A$16 million (S$20.3 million) for work on an onshore gas plant.

AusGroup said it will design, supply, fabricate and construct four storage tanks to be used for an unnamed major client's onshore gas plant. The contract starts immediately and is expected to be completed in about nine months.