Keppel wins Kazakhstan contract

Keppel Kazakhstan, a unit of Keppel Corporation Limited through Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract estimated at $150 million from Agip Kazakhstan North Caspian Operating Company (Agip KCO). The contract is for the fabrication of pipe racks and build four barges. Upon completion, they will support the first phase development of the Kashagan oil field.

By far the world largest oil discovery in 30 years, the Kashagan field is expected to be developed over the next 16 years at approximately $29 billion, and could yield up to 13 billion barrels of oil.

Keppel Kazakhstan complements its sister yard, Caspian Shipyard Company (CSC) in strengthening Keppel O&M?s presence in the Caspian Sea. Keppel Kazakhstan is located in the port of Aktau on the northeastern part of the Caspian Sea. It was set up in April 2003 to participate in and contribute to the emerging offshore oil and gas industry in the Kazakh Sector of the Caspian Sea.

The yard?s principal activities include the design, construction, conversion and repair of offshore drilling units and structures, specialised vessels such as tugs and supply boats, and the provision of offshore supply and logistics base.