Keppel FELS and PEM SETAL form joint venture to sublease Brazilian yard

Friday, March 03, 2000
Keppel FELS Limited (KFELS), the marine and offshore construction, conversion and repair company of the Keppel Group of Singapore has formed a joint venture with the PEM SETAL Group of Brazil to serve the increasing market of oil and gas exploration and production activities in Brazil and in the west coast of Africa. The joint venture company, FELS SETAL, has signed an agreement yesterday to sublease a Brazilian yard currently named Verolme. The 360,000 sqm yard, owned by Ishibras Verolme Industries, is located in the city of Angra dos Reis, about two hours south of Rio de Janeiro. This signing ceremony was witnessed by His Excellency Anthony Garotinho, Rio de Janeiro Governor; his Secretary of State of Energy, Shipbuilding Industry and Petroleum, Mr Wagner Victer; the Vice-president of BNDES (Brazilian Economic and Social Development Bank), and other dignitaries. The shipyard is well placed to service the upgrading and repair needs of rigs working in the region. It is currently estimated that there are over 30 such drilling rigs in the nearby waters. Hitherto, owners had either to delay sending their rigs in for repairs or travel some distance for urgent repairs. The joint venture company, FELS SETAL, will now be able to provide quality work at competitive prices while reducing downtime for rigs. The shipyard is also well placed to serve the construction demands of the growing deepwater production markets of offshore Brazil and West Africa, where the PEM Setal Group is already well known. In addition, FELS SETAL also intends to seek out opportunities to construct ships and specialised vessels at the yard. Said Mr Tong Chong Heong, Managing Director of Keppel FELS, at the signing ceremony on 2 March 2000, *This agreement is a big step towards our *near market, near customer* global strategy. With FELS SETAL, our customers in Brazil and West Africa will be able to avail themselves of the expertise and skills that they know and expect from Keppel FELS right at their doorstep.* Mr Augusto Mendonça, Vice-president of the PEM SETAL Group, also heralded the timely agreement, "Our association with Keppel FELS in this venture will provide a real alternative to the offshore industry for more local Brazilian content and is in line with Government's efforts to foster local industry". He added, "The involvement of the Rio de Janeiro State government through Governor Antony Garotinho, who started important actions with the Federal Government towards the creation of laws and policies, was of fundamental importance and has brought positive results. The market being envisaged is very important and we are very optimistic, and the PEM SETAL Group, with their expertise and track record in module and platform construction, lends complementary skills to this joint venture*. Keppel FELS* initial investment cost will be directed at rehabilitating the yard so it is ready to carry out work within the next three months. Further investments will be phased in according to the requirements of the projects secured. The yard boasts a basic set of facilities that can be revamped to provide a steel throughput of some 60,000 tons a year, and the yard has a deep-water pier ready to take in VLCCs and a 660-ton gantry crane over a 300,000 dwt building berth. Keppel FELS is a member of the Keppel Group, a Singapore-based conglomerate with businesses in marine, offshore, energy & infrastructure; property; banking and financial services; and telecommunications & logistics. Already a world leader in the design and construction of mobile drilling rigs, Keppel FELS also designs, builds and converts a whole range of floating production systems and specialised vessels. The PEM SETAL Group consists of six companies involved in chemical and petrochemical, oil refining, oil and gas, steel, metallurgy, mining and fertilizer industries besides being involved in transportation, telecommunications and public and private infrastructure business. It has annual billings of US$ 250 million and employs over 5,000 direct employees

Shipbuilding

Heavy Lifting: Giant Pipe Racks Shipped for New FPSO

From Brazil to China and then back to Brazil, five pipe racks and three modules weighing a total of 1,871.51 metric tons and measuring 24,075 m³ will be transported

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

Tuco’s New Arctic Workboat to Debut at SMM

Danish producer Tuco Marine said it will reveal a new Arctic workboat daughter craft at next month’s SMM in Hamburg.   Many arctic patrol vessels, icebrakers

Offshore

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0822 sec (12 req/sec)