Petrobras Netherlands Bv News

Keppel Offshore & Marine (Keppel O&M) has, through its wholly-owned subsidiaries, Keppel FELS Brasil S.A. and Keppel Shipyard Ltd (Keppel Shipyard), secured projects from repeat customers, Petrobras and SOFEC Inc. (SOFEC) respectively, worth a combined value of approximately S$130 million. Keppel FELS Brasil's BrasFELS shipyard has secured hull carry over work for the Floating Production Storage and Offloading (FPSO) unit P-69 from Tupi BV (a consortium formed by Petrobras Netherlands B.V., operator with 65%; Shell with 25%; and Petrogal Brasil with 10%), which is represented by Petrobras. The additional work scope on P-69 includes the installation of equipment and cables for the hull as well as the commissioning of marine systems.

On April 6, Mammoet, a service provider specializing in engineered heavy lifting and transport, completed a load-out of the first set of four modules bound for the FPSO (Floating Production, Storage and Offloading) P66 vessel. This is the first of eight FPSOs currently under construction for oil production in Brazil. The end client, TUPI BV, is a consortium composed of Petrobras Netherlands BV (PNBV, 65 percent), the British Gas Group (BG Group, 25 percent) and Galp Energia S.A. (10 percent), working on the ongoing development of the Lula Alto field, located in the Santos Basin, Brazil.

Sembcorp Marine’s subsidiary Jurong do Brasil Prestacao de Services Ltda (JDB) awarded FPSO module contract by Tupi B.V. The contract is for the construction of a total of 8 modules and module integration works for 2 Floating Production Storage and Offloading vessels (FPSO) P-68 and P-71 from Tupi B.V., a consortium owned by majority shareholder Petrobras Netherlands B.V., together with BG Overseas Holdings Ltd and Galp Energia E&P B.V. As part of the agreement, Tupi B.V. has a similar contract option to construct 4 modules and modules integration for a FPSO to be exercised within 18 months of the contract signing. Under the contract, the FPSOs P-68 and P-71 will have identical work scopes, comprising the fabrication of 4 modules for each FPSO and module integration works.

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.

Keppel Offshore & Marine Ltd (Keppel O&M), through Keppel Shipyard Limited (Keppel Shipyard) and Keppel Verolme BV (Keppel Verolme), has secured two contracts worth a total of about $165m. The first project, secured by Keppel Shipyard from repeat customer Petrobras Netherlands B.V (PNBV), is for the pre-conversion of P-58, a Floating Production Storage and Offloading (FPSO) vessel for the Campos Basin. The second project involves the repair and modification of the semisubmersible pipelay vessel, Castoro Sei for Saipem S.p.A (Saipem) by Keppel Verolme.

The consortium of Keppel Offshore & Marine Ltd  and Technip Engenharia S/A is on track to deliver the P-51 floating production unit (FPU) to Petrobras Netherlands BV (PNBV) by November 2008. This 48,000 tonne FPU is the second such rig that the consortium partners have completed. The first rig, the P-52 FPU, is currently producing in the Roncador field. President Luiz Inácio Lula da Silva of and First Lady Marisa Letícia Lula da Silva who was the Lady Sponsor, were at Keppel FELS Brasil’s BrasFELS shipyard yesterday to witness the christening. They were joined by some 5,000 Brazilian workers who also celebrated the achievement of the national project.

The consortium of FELS Setal SA, a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) in Brazil, and Technip Engenharia S/A (Technip), an affiliate of Technip S.A., has been awarded the P-52 contract from Petrobras Netherlands BV (PNBV). The signing ceremony of the US$775 million contract to build the semi-submersible production platform was witnessed by Brazil’s President Luiz Inácio Lula da Silva in the presence of more than 1000 guests at FELS Setal’s Brasfels Yard. Delivery of the floating production unit is due in 41 months for possible deployment in the Roncador field, a deepwater location of the Campos Basin, off the north coast of the State of Rio de Janeiro, Brazil.

The consortium of FELS Setal SA, a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) in Brazil, and Technip Engenharia S/A (Technip), an affiliate of Technip S.A., has been awarded the P-52 contract from Petrobras Netherlands BV (PNBV). Recently signed was a$775 million contract to build the semi-submersible production platform. Delivery of the floating production unit is due in 41 months for possible deployment in the Roncador field, a deepwater location of the Campos Basin, off the north coast of the State of Rio de Janeiro, Brazil. The project involves the detailed engineering, procurement and construction of an 180,000 bpd semi-submersible production platform capable of operating in water depths up to 1,800 m.

In the foreground is the P-52 FPU departing the yard on 11 September 2007. The consortium of Keppel FELS Brasil S/A and Technip Brasil Engenharia, Instalacoes e Apoio Maritimo S/A (Technip), FSTP Pte Ltd, has secured a $1.2 billion contract to build a semisubmersible Floating Production Unit (FPU) for Petrobras Netherlands BV (PNBV). FSTP is a 75/25 consortium company between Keppel Offshore & Marine (Keppel O&M) and Technip. The rig, to be named P-56, is expected to be delivered ex-yard in the last quarter of 2010. P-56 will be a repeat of the P-51 FPU which is currently being built at Keppel FELS Brasil’s BrasFELS yard. With this contract, the total orders secured to-date in 2007 by Keppel O&M is S$6.25 billion.

When the P-52 FPU is operational, Keppel’s projects for Petrobras would have contributed over 50 percent of Brazil’s total oil production capacity of about 1.8m barrels of oil per day. The consortium of Keppel Offshore & Marine Ltd (Keppel O&M) and Technip Engenharia S/A is on track to deliver the P-52 floating production unit (FPU) to Petrobras Netherlands BV (PNBV) in the third quarter of 2007. This P-52 FPU was the first project for which Petrobras imposed a minimum 60% of the total work to be carried out in-country when the project was put out for tender in 2002. The Keppel/Technip consortium has more than met the requirement. The project also won accolades from Petrobras for excellence in project management and execution in the PRODEP award for two consecutive years in 2005 and 2006.