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Marine Log

May 18, 2007

Jurong wins conversion orders

Singapore's Jurong Shipyard, a wholly-owned subsidiary of SembCorp Marine, has secured two conversion contracts worth a total of US$88 million.

The first involves conversion of the 188,697 dwt tanker, the S.T. Polar Alaska, into a Floating Production Storage and Offloading (FPSO) vessel for Aker Contracting FP AS.

To be renamed FPSO Aker Smart 1 upon completion in the first quarter of 2008, modification works involve the installation of an internal turret, three units of 5MW steam turbine generators and another three units of 5MV gas turbine generators and new process facilities, which include crude separation and gas compression and the upgrading of the entire piping and electrical systems.

On completion, FPSO Aker Smart 1 will be chartered to Reliance Industry Limited for deployment in the MA D6 field on the east coast of India.

Designed to operate for 10 years without drydocking, FPSO Aker Smart 1 will be capable of processing 60,000 barrels of oil and 80,000 barrels of liquid per day and with a storage capacity of 1,300,000 barrels of oil.

Jurong's second conversion contract involves the conversion and life extension of the 9,589 GT scientific research vessel, Joides Resolution, into an IODP (Integrated Ocean Drilling Program) Scientific Ocean Drilling Vessel (SODV) for Overseas Drilling Limited.

Scheduled for completion in the fourth quarter of 2007, work will see the complete replacement of the living quarters for 130 persons and the installation of a new scientific laboratory. In addition, the vessel will undergo life extension activities, including drydocking, repairs, the overhauling of the 12 thruster units and the upgrading of major electrical systems.

On completion, the converted vessel will re-commence scientific research initiatives worldwide.

Overseas Drilling Limited (ODL) is owned 50% by a subsidiary of Transocean Inc., the world's largest offshore drilling contractor, and 50% by Siem Offshore Inc., an offshore vessel owner and operator for the oil and gas industry. ODL has a long-term contract for the Joides Resolution with the Texas A & M Research Foundation, the IODP Science Operator.

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