OSX Obtains US$ 850 Million for FPSO OSX-2
OSX 2 Leasing B.V., a subsidiary of the OSX Brasil S.A., entered into a facility agreement with a syndicate of international banks lead by ING, Itaú-BBA and Santander, related to the granting of a loan in the amount of US$ 850 million, pursuant to the contractual terms, for investment in the construction and installation of the FPSO OSX-2. The facility was initially underwritten by the three lead banks and thereafter syndicated globally. In addition to the lead banks, the financial institutions participating in the syndicate are: HSBC, Citibank, ABN Amro Bank, Banco do Brasil and NIBC. The general conditions of the loan are: average interest of Libor rates + 4.41 % p.a.…
Keppel to deliver the first FPSO for Brazil’s OSX
Keppel Shipyard Ltd (Keppel Shipyard) is on track to complete the modification and upgrading works on FPSO OSX-1, the first floating production storage and offloading (FPSO) unit for OSX Brasil S.A. (OSX). Chartered to OGX Petroleo e Gas Participacoes S.A. (OGX), FPSO OSX-1 will be deployed in the Waimea field, in Campos Basin, offshore Brazil. This project will deliver OGX's first oil, just four years after the company was founded. Production is expected to commence in the last quarter of this year. Lady Sponsor Cristina Pinto named the vessel today in the presence of Mr Joao Ziccardi Navajas, Minister Counsellor at the Embassy of Brazil in Singapore, and Mr Reinaldo Belotti, Production Director of OGX.
Keppel Shipyard Wins Two Contracts
Keppel Shipyard Ltd has secured two contracts worth a total of S$146 million (over $120 million) to convert a Floating Production Storage and Offloading (FPSO) unit as well as to fabricate and integrate an external turret mooring system for an existing FPSO unit. The first contract, from Single Buoy Moorings Inc (SBM), involves the conversion of the Very Large Crude Carrier (VLCC) M/T Concorde Spirit into a FPSO facility, to be named FPSO OSX-2. SBM had been engaged by OSX Brasil S.A. (OSX) to supply the FPSO, which is expected to be completed in the second quarter of 2013 and will be deployed in the OGX Petroleo e Gas Participacoes S.A. (OGX) field in Campos Basin, offshore Brazil.
Keppel FELS Brasil Secures FPSO Topside Contracts
Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary Keppel FELS Brasil, has secured two contracts totalling R$500 million (approx. S$381.4 million) - one from Single Buoy Moorings Inc. (SBM), and another from the joint venture company MODEC and Toyo Offshore Production Systems (MTOPS). Mr Chow Yew Yuen, President (The Americas) of Keppel O&M, said, "Keppel has worked closely with various international drillers and fleet owners operating in Brazil for some 30 years. Today, in replicating Keppel O&M's proven systems and practices in Brazil, we are able to offer a full range of offshore solutions in construction, conversion, repair and modification, as well as the fabrication and integration of production topsides, among others.
Keppel Secures S$240M in Shipbuilding Contracts
Keppel Offshore & Marine Ltd (Keppel O&M), through wholly-owned subsidiaries Keppel Shipyard Limited and Keppel Singmarine Pte Ltd, has clinched new contracts totalling S$240 million. These comprise the upgrading of a Floating Production Storage and Offloading (FPSO) vessel, the conversion of a livestock carrier, as well as the building of a diving support vessel. With these latest projects, the total value of new contracts secured by Keppel O&M in 2010 has edged up to S$3.2 billion. Mr Nelson Yeo, Managing Director (Marine) of Keppel O&M, said, "I would like to thank our customers for their confidence in the capabilities of the Keppel O&M group of companies. These latest contracts strengthen the mutual trust and partnership we have established.
Topaz Delivers $75M Oil & Gas Project
Topaz Energy and Marine announced the project delivery of the deck structure of a Mobile Offshore Production Unit and storage (MOPUstor). The MOPUstor deck was constructed by Topaz Fabrication and Construction; part of the Topaz Engineering division under a subcontract from Single Buoy Moorings Inc for its client, Talisman Energy Norge AS. The value of Topaz Engineering’s portion of the work was $75m. Topaz’s scope of work was fabrication and construction of the hull and topsides of the MOPU, project completion took more than two years with the workforce peaking at 1,400 men.
Keppel Awarded 3 Projects
Keppel Offshore & Marine Ltd (Keppel O&M), through Keppel Shipyard Limited (Keppel Shipyard) and Keppel FELS Brasil SA (Keppel FELS Brasil), has secured three contracts worth a total of about S$300m. The first two projects, secured by Keppel Shipyard from repeat customers, are for the construction of a derrick lay barge and the modification of a Floating Production Storage and Offloading (FPSO) vessel. The third project is awarded by a new customer, Noble Drilling (Nederland) B.V., to Keppel FELS Brasil, through BrasFELS, for the completion of a deep drilling semisubmersible (semi).
Keppel Shipyard Named SBM's Preferred Yard in FPSO conversions
Keppel Shipyard, the wholly owned subsidiary of Keppel Corporation Limited (KCL) through Keppel Offshore & Marine Ltd (Keppel O&M), has been chosen as the preferred shipyard in the Far East for the conversion of Floating Production Storage and Offloading facilities (FPSOs) for Single Buoy Moorings Inc (SBM). This follows SBM’s satisfaction with Keppel’s performance and safety record in the two FPSO conversions for them in 2000. This was disclosed by Mr Choo Chiau Beng Executive Director of KCL and Chairman & CEO of Keppel O&M, at a ceremony to celebrate the successful completion of an FPSO for SBM, the owner and operator of the largest fleet of FPSO/FSOs. At the ceremony at Keppel Shipyard on June 28, 2002, the FPSO was named FPSO Falcon.
Keppel Secures Contracts
Keppel Shipyard has secured three new FPSO contracts worth a total of around S$160 million. These conversion contracts are from regular customers Single Buoy Moorings Inc (SBM), Prosafe Production Pte Ltd and newcomer Four Vanguard-Servicos e Navegacao Lda. The preferred shipyard of SBM in the Far East, Keppel Shipyard is expected to complete the conversion of Amazon Eagle for SBM by the second quarter of 2003. Amazon Eagle is the sixth conversion project that Keppel is undertaking for SBM, which owns and operates the world’s largest fleet of FPSO and FSO. The 307,431 dwt tanker, which has arrived in the yard, will be deployed to the Zafiro field off Equatorial Guinea upon completion.
Renaissance Subsidiary Awarded Oil & Gas Contract
Renaissance announced that its Abu Dhabi based oil & gas subsidiary Adyard LLC was recently awarded a $35m contract by Single Buoy Moorings Inc. The contract is for the fabrication of a Mobile Offshore Production Unit for to be located on the YME Field in the Norwegian sector of the North Sea. The contract entails the fabrication and load out of the Hull, Topsides and related works. The process equipment will be fabricated in modules and installed on the hull at the Adyard jetty. The work will be executed at Adyard's 140,000 sqm water front facilities located in the Mussafah industrial area of Abu Dhabi over an 18-month period. Single…
New Orders for SBM Offshore
A Letter of Intent was signed on April 26, 2006 by Chevron Frade LLC, a subsidiary of Chevron, and Single Buoy Moorings Inc under which the parties undertake to execute a lump sum Engineering, Procurement, Construction and Installation (EPCI) contract covering the provision of an FPSO based on the conversion of the VLCC 'Lu San' from SBM inventory. In addition to the EPCI contract the parties intend to enter into an Operations Contract for a minimum period of three years. The FPSO, moored by an internal turret accommodating 33 risers, will be fitted with topsides for the production of 100,000 barrels of oil, treatment and compression of 106 million standard cubic feet of gas and treatment and injection of 150,000 barrels of water per day.
Keppel Secures Conversion Contracts Worth $56.6M
Keppel Shipyard has secured two conversion contracts totaling about $56.6 million. The first contract is for a fast-track conversion of FPSO Marlim Sul from repeat customer Single Buoy Moorings Inc (SBM). Keppel Shipyard has completed four similar fast track projects for SBM since 2000. These projects include FPSO Espadarte, Yetagun FSO, FPSO Falcon, and FPSO Brasil. Work is currently in progress within schedule for FPSO Serpentina, which is due for delivery in April 2003. Tong Chong Heong, managing director and chief operating officer of Keppel Offshore & Marine Ltd (Keppel O&M) said, “Fast track projects are very challenging both for the owners and the shipyard especially in ensuring that a high standard of work is achieved without compromising safety and cost management.