Two subsidiaries of Singapore-based Sembcorp Marine, Sembmarine SLP and Jurong Shipyard, won two offshore construction and engineering contracts Monday worth a combined $222 million.
Sembmarine SLP will design and build an offshore substation platform for the Dudgeon Offshore Wind Farm located in the UK North Sea.
The contract was granted by Germany-based Siemens Transmission & Distribution, the company in charge of developing the farm’s electrical system infrastructure.
Sembmarine SLP is responsible for the design, engineering, procurement, project management and construction of the platform’s jacket substructure and topside.
The offshore transformer station will be constructed at Sembmarine SLP’s yard in Lowestoft, England.
The Dudgeon Offshore Wind Farm is a joint venture between Norwegian firms Statkraft and Statoil.
Jurong Shipyard won a contract from Singapore-based MODEC Offshore Production Systems to complete the repair, life extension and conversion of a very large crude carrier into a floating production storage and offloading (FPSO) vessel.
The conversion is part of MODEC’s TEN Development project.
When completed in the fourth quarter of 2015 the FPSO will have a production and treatment capacity of 80,000 barrels per day of crude oil, 65,000 barrels per day of produced water and 180 million cubic feet of gas per day.
The vessel will also have an onboard storage capacity of 1.7 million barrels.
The FPSO will be external turret moored in 3,280 to 5,905 feet water depth and operated by MODEC on behalf of Tullow Ghana, a wholly-owned subsidiary of UK-based Tullow Oil.
The contracts are not expected to have any material impact on Sembcorp Marine’s consolidated net tangible assets per share and earnings per share for the year ending on December 31, 2014.