Keppel Delivers FPSO

Tuesday, February 28, 2006
Keppel Shipyard Ltd (Keppel Shipyard), a unit of Keppel Corporation Limited through Keppel Offshore & Marine Ltd (Keppel O&M), has delivered FPSO Capixaba, with a conversion contract value of over S$90 million.

The 13-month fast-track project is the sixth Floating Production Storage Offloading (FPSO/FSO) conversion project for Keppel Shipyard from Single Buoy Moorings (SBM), member of the SBM Offshore N.V. Group, since 2000.

The work scope on the former Stena Congress includes installation and integration of topside modules; the fabrication and installation of the internal turret, flare tower, piperack and helideck; and installation of a hose reel at the stern for offloading to export vessels.

FPSO Capixaba will now be capable of producing 100,000 barrels of oil per day (bopd) with a storage capacity of two million barrels. The vessel will be moored in 1,350 metres of water. First oil is anticipated in the second quarter of 2006.

To be leased by SBM to Petrobras SA, Brazil’s national oil company, FPSO Capixaba will be the first FPSO to be deployed in the Golfinho light oilfield in the Espirito Santo Basin offshore Brazil.

Three other FPSO facilities owned by SBM and converted by Keppel Shipyard are also on lease to Petrobras. They are FPSO Espadarte, FPSO Brasil and FPSO Marlim Sul. When the FPSO Capixaba joins their rank later in the year, their total production output for Petrobras will be 390,000 barrels of oil per day.

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