Keppel FELS Brasil Scores FPSO Vessel Contracts worth $950M

Keppel FELS Brasil Scores FPSO Vessel Contracts worth $950M

Keppel FELS Brasil, a wholly-owned subsidiary of Singapore's Keppel Corporation, has won two floating, production, storage, and offloading vessels (FPSO) contracts worth $950 million, the company said in a statement Friday.

These contracts were secured from Brazilian consortiums Guara BV and Tupi BV, both led by Petrobras. 
 
As part of the agreement, Petrobras has an option for a similar contract to be exercised by 1Q 2014.
 
The two FPSOs – P-66 and P-69 – will have identical work scopes which include the fabrication and integration of seven topside modules. When completed, P-66 will be deployed to the Guara field while P-69 will work in the Tupi field offshore Brazil. Both FPSOs will each have a production capacity of 150,000 barrels of oil per day. 
 
"Keppel Corporation has been scoring really large offshore contracts of late. We are expecting the company to follow up with announcements of even more contract wins over the next few weeks," Maybank Kim Eng's Analyst Yeak Chee Keong told Rigzone on Friday.
 
Keppel Offshore & Marine - through its subsidiary Fernvale - said Tuesday that it has firmed up contracts with Sete Brasil for the design and construction of five semisubmersible drilling rigs for approximately $4.1 billion. This is in addition to the contract, signed last December, in which Keppel O&M agreed to deliver one semisubmersible drilling rig to Sete Brasil.
 

 

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