Jurong Shipyard has been contracted by regular customer MODEC Offshore Production Systems (Singapore) Pte Ltd, to complete the repair and life extension, and conversion of a VLCC into a Floating Production Storage and Offloading (FPSO) vessel as part of the TEN Development Project. This is the twenty-second FPSO conversion project which Jurong Shipyard is working on with MODEC.

When completed in 4Q2015, the TEN Development FPSO will have a capacity of production and treatment of 80,000 bpd of crude oil, 65,000 bpd of produced water, and 180 MMscfd of gas, with an onboard storage capacity of 1.7 million barrels. The facility will include for delivery 132,000 bpd of filtered, de-aerated seawater.

The TEN Development FPSO will be external turret moored in 1,000 to 1,800 metres water depth and operated by MODEC, on behalf of their client Tullow Ghana Ltd, a wholly-owned subsidiary of Tullow Oil Plc. The FPSO will host multiple subsea tiebacks from three reservoirs (Tweneboa, Enyenra, Ntomme) in the Deep Water Tano block off of the coast of Ghana, West Africa.
The contracts are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Sembcorp Marine for the year ending December 31, 2014.

About Sembcorp Marine

Sembcorp Marine is a leading global marine and offshore engineering group with over 50 years of experience and proven capabilities in repair, specialised shipbuilding, building of high-specification jack-up rigs, fast-track construction of ultra-deepwater semi-submersible rigs, conversion of floating production and storage facilities as well as the engineering and construction of offshore platforms.
Headquartered in Singapore, Sembcorp Marine has a network of six shipyards in Singapore – Jurong Shipyard, Sembawang Shipyard, SMOE, PPL Shipyard, Jurong SML and Sembmarine Integrated Yard @ Tuas. The 73.3-hectare Sembmarine Integrated Yard @ Tuas Phase I facility commenced operations in August 2013. The Group’s strategic presence spans Indonesia, China, India, United Kingdom and Brazil.

About Jurong Shipyard

Jurong Shipyard, a fully-owned subsidiary of Sembcorp Marine, is a leading shipyard offering integrated services and customised solutions in repairs & rig upgradings, ship conversion, rig building and offshore engineering to a world-wide clientele. Apart from its proven track record in building a diverse range of mobile offshore rigs from shallow to deepwater and harsh environment, Jurong Shipyard is also a global leader in the EPC conversion of tankers to floating production storage and offloading units (FPSOs), floating storage and offloading vessels (FSOs) and floating production units (FPUs).