Marine Log

October 9, 2006

Keppel Kazakhstan launches offshore barge

Keppel Kazakhstan LLP has launched the first offshore vessel ever built in Kazakhstan--a transportation barge built for Agip Kazakhstan North Caspian Operating Company N.V. (Agip KCO).

AKKU1 is one of four barges that Keppel Kazakhstan is constructing for Agip KCO. It is 92 m long, 30 m broad, and 6 m deep, equipped with auto ballasting system to facilitate skid-on/skid-off operations.

Delivery of this barge is expected within this year. Thereafter, the remaining parts of the contract which include the other barges, the pipe racks and other structures will be delivered progressively.

The project was awarded last year at approximately US$150 million. It will support the development of the Kashagan oil field.

Kashagan, which has recoverable reserves of up to 13 billion barrels, is one of the largest fields discovered over the last 30 years.

Mr Yick Ping Wong, President of Keppel Kazakhstan, said, "Keppel Kazakhstan is proud to be a part of this new and exciting development at Kashagan. It is committed to develop a modern facility that will benefit the local Kazakh economy.

"The launch of AKKU1, is also a celebration of an achievement by our local people, who have worked hard hand in hand with their Singaporean counterparts towards the completion of this flagship project. It is our hope that know-how and skill sets are transferred from Singaporean talents to our Kazakh work force to build up a pool of qualified tradesmen here, that will not only benefit future projects undertaken by Keppel Kazakhstan, but also the industry as a whole."

Keppel Kazakhstan LLP is a unit of Keppel Corporation's Keppel Offshore & Marine Ltd and is Kazakhstan's first shipyard. It is located in the seaport city of Aktau on the north-eastern part of the Caspian Sea, 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. Keppel Kazakhstan complements its sister yard, Caspian Shipyard Company (CSC) in Baku, Azerbaijan, in strengthening Keppel O&M's presence in the Caspian Sea.