EMAS OFFSHORE - back to home


15 Apr 2011

EMAS Production, KSI Production and PV Trans take
delivery of one of Vietnam’s largest FPSOs

EMAS Production, together with joint venture partners KSI Production and PetroVietnam Transportation (PV Trans) will lease the FPSO to Premier Oil Vietnam Offshore (POVO) on their Chim Sao field, offshore Vietnam. Services will also include operation of the unit and also the nearby wellhead platforms. The FPSO contract is one of only seven signed worldwide in 2009, and is worth up to approximately US$1 billion. The project to convert the 170,000 dwt Suezmax tanker into an FPSO was awarded to Keppel Shipyard in December 2009 and is on track for first oil in mid 2011.

At the FPSO’s naming ceremony today, Mr Lionel Lee, Group Managing Director of EMAS said: "This FPSO underscores EMAS’ ability to deliver a diverse range of customised marine and offshore support solutions, from design, fabrication, offshore installation, operation and maintenance. The addition of Lewek EMAS to our fleet propels EMAS Production to be one of Asia’s leading FPSO operators."

Mr Nelson Yeo, Managing Director of Keppel Shipyard said, "Keppel Shipyard is pleased to support the conversion of Lewek EMAS. We provided a broad spectrum of FPSO conversion services on this project, including the engineering and fabrication of topsides modules."

"In spite of the tight schedule, the project teams for this conversion have worked hard to upkeep the highest standards of quality and safety of our people and workplace. The successful conversion of Lewek EMAS further enhances Keppel as the choice provider of reliable and value-added marine services," he added.

Mr Lim Kwee Keong, Chief Executive Officer of EMAS Production, said, "The strategic foresight and creative energy of our partners have turned the Lewek EMAS project into a reality. With their support, we are the first overseas company to secure an offshore Vietnam loan to finance the FPSO’s conversion."

"Conversions are complex undertakings and to achieve this with 5 million man-hours expended safety incident free is a great achievement. EMAS Production is confident of delivering top-notch performance with this FPSO in her upcoming assignment offshore Vietnam," added Mr Lim.

Mr Pham Viet Anh, CEO of PV Trans added "PV Trans is proud to be part of this strategic alliance amongst the best names in their respective business. These were unprecedented times of economic turmoil but we overcame various obstacles and are extremely excited to witness the largest offshore asset ever to be delivered in PVT's history. As a stakeholder in a joint venture with EMAS to provide operations and maintenance services to Lewek EMAS, our local team will also be able to capitalize on an ongoing knowledge and skill transfer program, where PV Trans will gain immense traction in FPSO operating competencies. I am thus confident that PV Trans will continue to enhance our capabilities and contribute positively to the project."

EOC Limited, Ezra Holdings Limited, KSI Production Pte Ltd and PetroVietnam Transportation Corporation have formed a joint venture organization, PV Keez Pte Ltd to execute this project.

Below are the key facts on Lewek EMAS:

Lewek EMAS Fact Box
April 15, 2011 Christening
May, 2011 Expected voyage start to Chim Sáo field off southern Vietnam
June, 2011 Final offshore installation and preparations
July, 2011 Expected first oil

HIGHLIGHTS

Main:
Key features of the FPSO include:

FOR FURTHER INFORMATION

For Emas
Alex Tan
Manager, Corporate Communications
Tel: (65) 6512 8824
Mobile: (65) 9841 0392


Matthew Law
Pelham Bell Pottinger Asia
Tel: (65) 6333 3449
Mobile: (65) 8498 4260


For Keppel
Ivana Chua (Ms)
Senior Manager
Keppel Group Corporate Communications
Tel: (65) 6413 6436
Mobile: (65) 9239 1423


ABOUT THE COMPANIES

EMAS
EMAS, a recognised leading global offshore contractor providing construction, marine, production and well intervention services, is the operating brand of Singapore listed Ezra Holdings Limited (以斯拉控股) and Oslo listed EOC Limited. EMAS specialises in delivering best-value solutions and has become a powerful alternative in the oil and gas (O&G) industry by combining a customised approach along with a widely diverse offering of assets and services to meet clients’ needs. EMAS operates globally with offices in 16 locations across five continents spanning Africa, the Americas, Asia Pacific and Europe.

The completion of the acquisition of Aker Marine Contractors AS in 2011 adds one of the world's leading SURF and floater installation providers with a history of renowned accomplishments to the Group. EMAS has four main business segments which together have the capability to execute a full spectrum of seabed-to-surface engineering, construction, marine and production services throughout the world. In addition, the Group offers fabrication, engineering, logistics and support services out of Vietnam though HCM Logistics Limited and yard facilities in Ho Chi Minh City and Vung Tau.

EMAS Production, under EOC Limited, owns and operates FPSO facilities. Its capabilities include FPSO conversion management and the operation & maintenance of production facilities. It possesses the capability and track record to design and provide FPSO/FSO Mooring & Riser Systems and Turrets, and Fluid Transfer Systems.

Keppel Shipyard
Keppel Shipyard is a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), a wholly-owned company of Keppel Corporation Limited. Keppel O&M is a leader in offshore rig design, repair and construction, shiprepair and conversion and specialised shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner for solutions for the offshore and marine industry.

KSI Production Pte Ltd is a wholly-owned subsidiary of Keppel Corporation Limited through Keppel O&M.

PetroVietnam Transportation Corporation (PVTrans)
PVTrans provides transportation services for petroleum and petrochemicals products. The Company offers maritime logistic services for crude oil, inland transportation of goods, and also maintains chartering and agency services, maintenance work for marine vehicles, and trading of parts, and supplies for maritime fleets.