Keppel FELS Brasil Secures US$200 million Contract

(Press Release)
Wednesday, July 11, 2012

Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary Keppel FELS Brasil, has secured a contract worth approximately US$200 million from MODEC and Toyo Offshore Production Systems Pte Ltd (MTOPS), a joint-venture company established in Singapore by Toyo Engineering Corporation (TOYO) and MODEC, Inc.

The contract is for the fabrication and integration of topside modules for the Floating Production Storage and Offloading vessel (FPSO) Cidade de Mangaratiba MV24 at Keppel FELS Brasil's BrasFELS yard in Angra dos Reis, Rio de Janeiro, Brazil.

Scheduled to be completed by 2Q 2014, the FPSO will have a daily production capacity of 150,000 barrels of oil per day (bopd) and storage of 1,600,000 barrels of oil. It will be chartered to Tupi B.V - a Dutch company owned by PETROBRAS NETHERLANDS B.V. (65%), BG OVERSEAS HOLDING LTD. (25%), and GALP ENERGIA E&P BRASIL B.V. (10%) - for 20 years and deployed at Lula-Iracema South Area in offshore Brazil.

Mr Chow Yew Yuen, Chief Operating Officer of Keppel O&M, said, "We would like to thank our repeat customer MTOPS for reaffirming their confidence in us. This is our second project with them and we are committed to deliver it safely, on time and within budget. The first project, the integration of topside modules for the FPSO Cidade de Sao Paulo is progressing well, and we look forward to support MTOPS as they grow their presence in Brazil.

"Keppel's BrasFELS yard is the most established yard in Brazil and has a proven track record of offering a full range of offshore and marine solutions, including the fabrication and integration of topside modules. We are continuously making improvements to the yard so that we can better serve our customers."

Work is expected to commence at BrasFELS in 4Q 2012. The major work scope includes fabrication of the helideck, flare tower, risers, manifolds, waste heat recovery units, sulphate removal unit, water injection unit and integration.

Mr. Shigero Usami, President of MODEC Singapore said, "We are pleased to award this project to Keppel FELS Brasil as they have demonstrated their strong performance in the integration of the FPSO Cidade de Sao Paulo. We are confident that both vessels will be delivered to our highest satisfaction and be a success when deployed for our customers.

"As a leading FPSO operator, we are ideally positioned to support the growth of Brazil's oil and gas production. In partnering an established shipyard like BrasFELS, we help ensure that our customers get their FPSOs on time to meet their production targets."

The first project between Keppel and MTOPS on the fabrication and integration of topside Modules for the FPSO Cidade de Sao Paulo was contracted in February 2011. Work on the project is progressing on track and expected to be completed by 4Q 2012.

The above contract is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Maritime Broadband Opens Office in Greece

Maritime Broadband has expanded its worldwide footprint by opening an office, Maritime Broadband Hellas, in Athens, Greece. The new office addresses the growing

Renewable Energy: Schottel Tidal Turbines Ready For Use

In the last months Schottel  successfully tested its hydrokinetic turbines in Strangford Lough, Northern Ireland. The full-scale tests included 260 operating hours under realistic conditions.

B COOL Acquires MEMAC

With the acquisition of MEMAC, B COOL A/S now offers customers one entry to multiple maritime systems – both refrigeration solutions and monitoring of the engine

Contracts

Offshore Oil: Lamprell Completes Caspian Sea Drilling Unit

UAE-based Lamprell said that it completed construction of the second Caspian Sea jackup drilling rig, Mercury, for service in the Caspian Sea.   "I am delighted

Salamander Energy Updates on SONA Transaction

Salamander Energy said it has submitted a draft shareholder circular to the Financial Conduct Authority in relation to previously stated plans to divest of an interest in the Greater Bualuang Area.

Mitsubishi: First-Ever Licensing Deal to Chinese for Marine Propellers

Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME), a group company of Mitsubishi Heavy Industries, Ltd. (MHI),  concluded a licensing agreement

Offshore

Renewable Energy: Schottel Tidal Turbines Ready For Use

In the last months Schottel  successfully tested its hydrokinetic turbines in Strangford Lough, Northern Ireland. The full-scale tests included 260 operating hours under realistic conditions.

Statoil: New Oil in the Grane Area

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.   Well 25/8-18 S, drilled by the rig Transocean Leader,

Offshore Oil: Lamprell Completes Caspian Sea Drilling Unit

UAE-based Lamprell said that it completed construction of the second Caspian Sea jackup drilling rig, Mercury, for service in the Caspian Sea.   "I am delighted

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2234 sec (4 req/sec)