Sembcorp Marine has secured new contracts worth S$400m (£237.76m) from various repeat and new customers.
The contracts also enabled the company to break into the highly competitive offshore wind sector in Taiwan. Under one of the contracts, Sembcorp Marine Rigs & Floaters has entered into an agreement with Shapoorji Pallonji Oil and Gas and Bumi Armada to convert a very large crude carrier (VLCC) Ariake to a floating production, storage and offloading (FPSO) unit for deployment on the east coast of India.
The vessel is expected to produce approximately 90,000 barrels of oil per day and has a 1.3-million-barrel storage facility. The work will be completed at the Tuas Boulevard Yard while delivery is scheduled in the second half of 2021.
The project includes hull repairs and upgrading, apart from the fabrication of at least three topside modules to be installed by Sembcorp Marine on the vessel.
Sembcorp Marine Repairs & Upgrades has bagged three new gas projects, of which one is for the conversion of LNG tanker Dwiputra into a 125,000cbm floating storage and regasification unit FSRU.
The contract will be executed for a joint venture between Mitsui O.S.K. Lines (MOL) and Karpower International.
The other contracts include the conversion of NYK Line’s former gas carrier LNG Flora into a 127,000cbm floating storage unit FSU for Gasfin Development and upgrading works on the 173,400cbm FSRU BW Magna for BW LNG.
The three projects are expected to be completed at Sembcorp Marine Admiralty Yard while delivery will be done between the end of this year and February 2020.
Lastly, Sembcorp Marine Offshore Platforms secured a contract with Jan De Nul to produce 15 jacket foundations for the Formosa 2 Offshore Wind Farm, which will be Taiwan’s largest offshore wind farm.
Sembcorp Marine president & CEO Wong Weng Sun said: “Despite the challenging market conditions, we have been steadfastly pursuing the available pockets of opportunities. I am very pleased that our teams have translated several of these opportunities into new contracts.
“As we respond to current market enquiries and customer requirements, Sembcorp Marine will continue to innovate and improve our capabilities, so that we can sustain our long-term competitiveness by having the best solutions for the evolving global offshore, marine and energy industries.”
