Keppel Shipyard said it has received two contracts worth $160m to convert a very large crude carrier into a floating production storage and offloading facility.
The conversion of the MT Bauhinia includes life extension works, accommodation block extensions, installation of a flare tower and topside modules.
Keppel expects to start the work in 2010 with a scheduled completion by 2011.
The company said it will also convert a vehicle carrier, Merlion Ace, into a livestock carrier for Merlion Ace Compania Naviera, an affiliate of livestock operator Hijazi & Ghosheh.
The vessel, scheduled for completion in Q3 2010, will operate between Australia and the Middle East.