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TWIN FPSO CONTRACT FOR KEPPEL O&M

Thursday, July 16, 2020 

Keppel O&M has, through its wholly-owned subsidiaries in Singapore and Brazil, secured two contracts worth a combined value of about USS$73 m from Modec Offshore Production Systems (Singapore).

In Singapore, Keppel Shipyard has been engaged to fabricate, complete and integrate the topside modules and mooring support structure for a Floating Production Storage and Offloading vessel (FPSO). Components for the modules and mooring support structure are scheduled to arrive in mid-2020 for completion as well as integration and installation with the FPSO hull, which is expected in the yard in late 2020. Slated for delivery in 2021, the FPSO will be equipped to process 90,000 barrels of oil and 75 million standard cubic feet of gas per day and with a storage capacity of 700,000 barrels of oil.

In Brazil, Keppel O&M’s BrasFELS shipyard has been awarded a topside module fabrication contract for an FPSO for the Buzios field in the Santos Basin, off the coast of Rio de Janeiro, Brazil. Work on the FPSO, to be named FPSO Almirante Barroso MV32, is expected to commence in 2020 at the BrasFELS shipyard in Angra dos Reis, with delivery scheduled for 2021. This marks the seventh FPSO related project undertaken by BrasFELS for Modec. When completed, the vessel will be capable of processing 150,000 barrels of oil and 212 million standard cubic feet of gas per day, with a minimum storage capacity of 1.4 million barrels of oil.

Chris Ong, CEO Keppel O&M, said: “We are pleased to have been chosen by repeat customer, Modec, as a trusted partner to execute and deliver its key projects wherever they are needed. We have built a solid track record of 11 projects completed with the Modec group of companies over the years, which include FPSO conversions, module fabrication and integration works, as well as turret projects. Against the backdrop of Covid-19, Keppel O&M has implemented enhanced safety measures to ensure the safety of our staff and customers, while leveraging technology and innovation to ensure that our operations can continue in a safe and efficient manner.”

Anthony Quinn, President and COO of Modec Offshore Production Systems (Singapore), said, "Keppel has been a trusted partner for Modec.  We have confidence in Keppel’s track record and ability to deliver in spite of the current challenging environment, as we continue to support Brazil’s significant oil and gas industry.”

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