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

People & Company News

Messer's CEO Norville Announces Retirement

Bill Heller to assume the position as Messer Cuttings Systems’ President and CEO Gary Norville started at Messer Cuttings Systems Inc. in September 1980 selling and installing cutting machines.

Rohr Dredge Continues European Expansion

Rohr International Dredge Holdings, Inc. announced that it acquired Eurl Rohr France, including its current backlog, inventory and all associated intellectual property (IPR), on July 23, 2014.

Petroecuador Tenders to Buy 3.84m bbls of Naphtha

State-run oil company Petroecuador has launched tenders to buy a total volume of 3.84 million barrels of naphtha for delivery in the coming month at Esmeraldas,

Contracts

Globecomm to Provide VSAT for PBJV Barge

Purpose-built accommodation and pipe-lay barge on charter to Petronas equipped with VSAT and L-Band services. Globecomm Maritime has been awarded a contract

VSTEP Wins Mexican Navy Simulator Contract

The Mexican Navy selected VSTEP to supply a Class A NAUTIS Full Mission Bridge (FMB) Simulator and 24 NAUTIS desktop trainer stations for the Naval Academy in Veracruz.

Floating Production: $1.2b Speculative FLNG Ordered

The floating production business continues to be very strong, particularly in the LNG gas processing sector.  Last month saw a speculatively ordered floating liquefaction plant – a $1.

Offshore

Floating Production: $1.2b Speculative FLNG Ordered

The floating production business continues to be very strong, particularly in the LNG gas processing sector.  Last month saw a speculatively ordered floating liquefaction plant – a $1.

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Shipbuilding / Vessel Construction
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: 0.2141 sec (5 req/sec)