Marine Link
Friday, March 29, 2024
SUBSCRIBE

Pem Setal Group News

13 Dec 2001

Keppel FELS Unit Secures Contracts

Keppel FELS Limited (KFELS), the offshore arm of the Keppel Group, through its subsidiary in Brazil, FELS Setal SA, has signed two contracts worth a total of $104 million. These jobs bring FELS Setal’s total contracts secured to $250 million since its incorporation 18 months ago. The first job clinched is the $90 million contract for three Anchor Handling Tugs / Supply vessels (AHTS) for Delba Maritima, a Brazilian offshore vessel operator. This follows the Letter of Intent recently announced on October 30, 2001. In February 2001, Halliburton awarded FELS Setal a $75 million contract for the marine conversion of VLCC Stena Concordia to an FPSO to be renamed P-48.For the building of the AHTS…

04 Jan 2005

Keppel O&M Completes Acquisition

Keppel Offshore & Marine Ltd (Keppel O&M), the wholly owned subsidiary of Keppel Corporation Limited, has acquired from the PEM Setal Group the latter’s entire 17.25% interest in FELS Setal S.A. The cash consideration for the purchase is US$5 million. This was arrived at on a willing buyer and willing seller basis taking into account the net assets of the company and existing contracts. With the acquisition, FELS Setal will become a wholly owned subsidiary of Keppel O&M, and will be renamed Keppel FELS Brazil SA. The sale by PEM Setal is due to PEM Setal’s restructuring programme for its group of companies. Keppel O&M is a global leader in offshore rigs and ship conversion and repair as well as a specialised shipbuilder.

26 Apr 2001

Brazillian Yard Preps To Ride Offshore Wave

As ship and boatyards in the Gulf of Mexico eagerly await 'Offshore Boom 2001,' it might behoove them to look at activities transpiring outside of their own backyard, as the business of building offshore rigs and vessels has truly become a global bonanza. For example, down south, way down south in Brazil, FELS Setal SA has become that country's preferred shipyard for offshore and marine services on account of its quality workmanship and on-time deliveries, after just one year of its formation. The 60/40 joint venture company between Keppel FELS Energy & Infrastructure Ltd. (Keppel FELS) of Singapore and the PEM Setal Group of Brazil has won a total of $120 million worth of contracts in this short time.

03 Mar 2000

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

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…