Highlights

Keppel Corporation: Secures FPSO Conversion Work
Date: 06/10/2017

Source  :  OCBC
Stock  :  Keppel Corp       Price Target  :  7.36      |      Price Call  :  BUY
        Last Price  :  6.65      |      Upside/Downside  :  +0.71 (10.68%)
 

Keppel Corporation yesterday announced that Keppel Shipyard has secured an FPSO conversion contract from long-standing customer, SBM Offshore. The Tina VLCC will be converted to an FPSO which will be deployed to the Liza field (offshore Guyana) developed by ExxonMobil.

The converted FPSO will have a storage capacity of 1.6m bbl of crude oil and is able to produce up to 120k bbl of oil per day.

Keppel’s work scope includes refurbishment and life extension works, such as the upgrading of living quarters, fabrication and installation of spread mooring systems, as well as the installation and integration of topside modules, and we estimate a contract value of more than S$100m for Keppel.

Maintain BUY with S$7.36 fair value estimate on KEP.

Source: OCBC Research - 6 Oct 2017

Share this
Labels: Keppel Corp

Related Stocks

Chart Stock Name Last Change Volume 
Keppel Corp 6.65 -0.02 (0.30%) 1,542,200 

Market Buzz

Date Type Subject
16-Jul-2018 Announcement Asset Acquisitions and Disposals::ACQUISITION OF SUBSIDIARIES

More articles on SGX Stocks and Warrants >>


  Like Comment
  Be the first to like this.
 


 

140  177  233  519 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 HSI27400MBePW.. 0.121-0.008 
 HSI26600MBePW.. 0.088-0.007 
 HSI29600MBeCW.. 0.113-0.007 
 HSI30400MBeCW.. 0.06-0.005 
 HSI28000MBePW.. 0.074-0.009 
 HSI29400MBeCW.. 0.043-0.008 
 HSI28200MBePW.. 0.167-0.009 
 BlackGoldNatural 0.027-0.014 
 Genting Sing 1.25-0.01 
 HPH Trust USD 0.280.00 
Partners & Brokers