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.


People & Company News

MN100: Shock Mitigation

The Company: The company provides marine organizations, boat builders and equipment manufacturers with relevant subject matter expertise plus an independent overview

MN100: BlueTide Communications

The Company: BlueTide is a leader in the provisioning, implementation, monitoring and support of satellite equipment. Combining the power of HUGHES proprietary

Transas to Unveil the ‘Future of Maritime Operations’

Today's maritime industry requires realistic solutions and concepts for a modern, integrated operational infrastructure that delivers a sustainable, viable future,

Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

Offshore

New Offshore Gangway Launched at ONS

The new Barge Master Gangway will be presented at the joint booth of Barge Master and Bosch Rexroth during the international offshore trade exhibition ONS (Offshore Northern Seas) in Stavanger.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

STX to Slash Jobs, Sell Yard

To stay above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0028 sec (359 req/sec)