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In its new guise, the 1975-built crude carrier will be deployed by Nortrans on the Ranger oilfield development off Angola, an area of fast growing activity. Keppel's remit includes the fabri- cation and positioning of the requi- site deck foundations for the process equipment, supplied by the contractual interests for installa- tion by the yard. The transforma- tion work also includes an eight- point mooring system, aft helideck, bow offloading line and platform, and deck crane and riser porch. Immediately prior to the start of the conversion program, and under a separate contract from Norwegian shipowner Red Band, the yard effected about 100 tons of steel renewal, plus overhaul work and routing drydocking. Contractual commitments in the offshore vessel category executed by prolific Keppel last year includ- ed the fit-for-purpose conversion of the 59,650-dwt tanker Armada Perkasa into an FPSO for duties off the Malaysian coast, and the adaptation of the 70,000-dwt tanker Endeavor as an FSO (float- ing storage and offloading) vessel. It also won the $43 million project to convert the 12,000-dwt Peregrine IV into a dynamic-posi- tioning (DP) drillship, due to be completed by mid 1998. Buoyed by the resurgence of demand in the offshore market, Keppel FELS has extended its workload through 1999 and is pur- suing a number of projects in its core business of rigbuilding and upgrading, involving new jack-ups and semi-submersible conversions. With an oversupply situation having given way to a shortage of operational rigs, drilling contrac- tors are now booking rigs as much as two years in advance, stimulat- ing investment in new and rebuilt equipment. Toward the end of last year, Keppel FELS had already secured contracts worth $471 mil- lion entailing completions in 1998, with more than $300 million in new orders having been sealed for delivery in 1999. One of the high- lights of the inflow of work last year was the award by Santa Fe for the construction of two Universe-class rigs, which will be similar to Galaxy 1, built at the yard for the same owner in 1994. The Caspian Sea, one of the world's oldest oil-producing regions, is among the target mar- kets identified by the company. While it has established a presence there by providing quality accom- modation for oil companies, its March, 1998 ultimate objective lies in supplying drilling contractors working in the growing offshore oil and gas sec- tors. The Singaporean firm's U.S. sub- sidiary, Amfels, had around $160 million worth of orders outstand- ing for completion in 1998-99, as of the end of December. Last year's contract intake featured two new- building jack-up rigs. Keppel FELS' stake in the power business provides a valuable com- plement to its offshore work, and currently includes the construction of a 100-MW cogeneration plant at Zunhua City in China. Part of the same owning group, Keppel Marine has four 18,000- bhp anchor-handling tug supply (AHTS) vessels on order for the A.P. Group's Maersk Supply Service. The owner-supplied design features a 350-ton winch. Deliveries are scheduled at three- month intervals commencing in September 1998. The first of a new breed of multi- role cargo and containership, offer- ing scope for volume production, is set to be handed over this June by Hitachi Zosen Singapore (HZSL). The versatile new Stamford class ANCHORS CHAINS up to 4Vi", U2/U3 from STOCK! G. J. Wortelboer jr. B.V. P.O. 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