04 May 2010

Milestone Conversion of FPSO KWAME NKRUMAH MV21 – Ghana’s First FPSO – by Jurong Shipyard

Singapore, 4 May 2010: Ghana’s First Floating Production Storage and Offloading (FPSO) vessel FPSO Kwame Nkrumah MV21, successfully converted by Sembcorp Marine’s subsidiary Jurong Shipyard for MODEC, is on track for its landmark assignment offshore Ghana’s Jubilee Field following its official naming.

Set to be an integral part of the Phase 1 development plan for Ghana’s Jubilee Field, FPSO Kwame Nkrumah MV21 was officially named by Lady Sponsor Mrs Ernestina Naadu Mills, the First Lady of the Republic of Ghana, in a ceremony at Jurong Shipyard on May 1, 2010. The milestone naming was witnessed by a high-level Ghanaian government delegation, including Ghana’s Minister of Energy Dr. Joe Oteng-Adjei, key representatives from Ghana National Petroleum Company (GNPC) and partners of the Jubilee Field Development, as well as management and staff of MODEC and Jurong Shipyard.

The FPSO Kwame Nkrumah MV21 will leave shortly for the Jubilee Field, one of West Africa’s largest oil fields recently discovered offshore the western coast of Ghana, under a long-term charter with Tullow Ghana Ltd. The FPSO is scheduled to deliver First Oil in the fourth quarter of 2010.

Designed to operate for 20 years without dry-docking, FPSO Kwame Nkrumah MV21 is equipped with the biggest turret ever constructed in the oil industry. The FPSO is capable of processing 120,000 barrels of oil per day and 160 MMscfd of production gas, with a storage capacity of 1,600,000 barrels of oil and a water injection rate of 230,000 barrels of water per day.

The conversion of FPSO Kwame Nkrumah MV21 from the Very Large Crude Carrier (VLCC) tanker Ohdoh (ex Tohdoh) encompassed detailed engineering, installation and integration of 17 modules, including a water treatment plant, crude separation plant, chemical injection plant, gas process and injection plant, the turret, electricity generation plant and a 120-room accommodation facility.

Affirming the FPSO Kwame Nkrumah MV21 as a key milestone in Ghana’s journey to pumping first oil, Mrs Ernestina Naadu Mills, First Lady of the Republic of Ghana said that its significance will reverberate into the Ghana’s future and the country’s oil and gas industry.

She added: “The FPSO, critical equipment for production of oil, is ready and shall set sail for Ghana on schedule…. Ghana is on the verge of becoming an oil-producing country sometime in the last quarter of 2010 when under Phase I of the Jubilee Field project, 120,000 barrels of oil a day and 120 million standard cubic feet dry gas per day would be produced.”

Mr. Aidan Heavey, Chief Executive Officer of Tullow Oil, said: “The FPSO Kwame Nkrumah MV21 is assembled for the future of Ghana. We have a huge responsibility for health, safety and environment and to ensure that the oil that flows up from the earth through this fantastic vessel fuels the growth of Ghana’s economy.”

In his speech, Mr Shashank Karve, Managing Director and Chief Operating Officer of MODEC Inc, expressed his pride and joy in witnessing this momentous day. Describing the FPSO Kwame Nkrumah MV21 as an embodiment of teamwork, he thanked key stakeholders and partners – Ghana’s Ministry of Energy, Tullow and GNPC and Jurong Shipyard – for rallying their support to make this milestone achievement a reality.

“In the 4th quarter, the FPSO will produce Ghana’s first oil and we hope that the riches produced by the vessel will benefit every citizen of Ghana,” Mr Karve added.

Mr Wong Weng Sun, President and Chief Executive Officer of Sembcorp Marine and Managing Director of Jurong Shipyard, said: “The synergy between the MODEC and Jurong teams, coupled with the cooperation of Tullow Ghana, has been a contributing factor to the successful completion of this conversion and upgrading project. To-date, we have successfully carried out conversion and upgrading of 14 FPSO projects and 4 FSO projects for MODEC. This long-standing relationship is only possible through mutual trust and understanding and we would like to express our heartfelt thanks to MODEC for their trust in us. We hope to continue this strong and enduring relationship and bring it to greater heights.”

About Jurong Shipyard

Jurong Shipyard, a fully-owned subsidiary of Sembcorp Marine, is a leading shipyard offering integrated services and customised solutions in ship repair, shipbuilding, ship conversion, rig building and offshore engineering to a worldwide clientele. Jurong Shipyard is a global leader in the EPC conversion of tankers to floating, production, storage and offloading units (FPSOs), floating storage tankers (FSOs) and floating production units (FPU). In addition, the yard has a proven track record in the building and servicing of jack-up and semi-submersible rigs.

Set to make history as Ghana’s first FPSO, FPSO Kwame Nkrumah MV21, converted from the VLCC tanker Ohdoh by Jurong Shipyard for MODEC, is bound for the Jubilee Field offshore the western coast of Ghana.

Milestone naming: The First Lady of the Republic of Ghana Mrs Ernestina Naadu Mills christening Ghana’s first FPSO vessel – the “FPSO Kwame Nkrumah MV21” – in Jurong Shipyard on May 1, 2010, in the presence of key stakeholders (from left) Mr Shashank Karve, Managing Director & COO of Modec Inc, Mr Nana Boakye Asafu-Adjaye, Managing Director of Ghana National Petroleum Company, Dr Joe Oteng-Adjei, Ghana’s Minister for Energy, Mr Aidan Heavey, CEO of Tullow, Mr Wong Weng Sun, President & CEO of Sembcorp Marine and Managing Director of Jurong Shipyard, Mr Sateesh Dev, President of Modec Singapore, and Mr Goh Geok Ling, Chairman of Sembcorp Marine

For the PDF version of this media release, please click here.

For the event pictures, please click here.

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