Keppel, Ezra and PetroVietnam in joint venture

Singapore: Keppel Offshore and Marine, Ezra Holdings, EOC Ltd and PetroVietnam Transportation have formed a joint venture to own and operate a floating production and storage offshore vessel in Vietnam. The joint venture, PV Keez, will supply an FPSO for the $1bn contract for Premier Oil’s Chim Sao project. Ezra will be selling a 168,000 dwt suezmax tanker Lewek Emas to the joint venture for conversion to an FPSO. Keppel is taking a 20% stake in the joint venture through its subsidiary KSI Production and will invest up to $30m.

Source: Sea Trade Asia