Lights on: Keppel Shipyard has joined a joint venture to build, own and operate an FPSO on the Chim Sao oilfield
Chim Sao floater venture formed
Singapore-based Ezra Holdings today confirmed it has formed a joint venture with Keppel Shipyard and two other parties to supply a floating production, storage and offloading vessel for Premier Oil’s Chim Sao oilfield.
The four-party joint venture includes interests from Ezra and its offshore construction unit, EOC, Keppel Shipyard’s subsidiary, KSI Production and PetroVietnam Transportation (PV Trans).
Ezra and EOC will pick up 36.7% and 43.3% interests respectively in the joint venture company, PV Keez, according to separate statements issued by the two companies.
EOC won a contract worth up to $1 billion in October last year to supply a floater for the Chim Sao oilfield.
Keppel was awarded the contract to convert the oil tanker Lewek Emas. Work on the 168,000-tonne tanker has commenced at the Singapore-based shipyard.
When complete, the FPSO will be capable of processing up to 50,000 barrels of oil per day and storing 680,000 barrels.
The production unit is expected to enter service in the second quarter of 2011.
PV Trans is contracted to supply the maintenance and operation services at the Chim Sao field.