Keppel Secures S$130 Million in Projects from Repeat Customers

Source: www.gulfoilandgas.com 12/11/2017, Location: Asia

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.

Mr Chris Ong, CEO of Keppel O&M, said, "We are pleased that our repeat customers continue to choose us as their preferred partner for their FPSO projects. It is a testament to our proven track record and expertise in a comprehensive range of services and proprietary technology for production assets. We are committed to deliver innovative, reliable and value-added solutions for the industry."

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.

BrasFELS was initially contracted to undertake the fabrication, integration, testing and commissioning of the topside modules for P-69. The yard has since completed module fabrication for P-69, and is currently undertaking integration and commissioning of the topside modules.

P-69 is scheduled to depart BrasFELS in 2018 for the Santos Basin pre-salt region. When delivered, it will have a production capacity of 150,000 barrels of oil per day (bopd) and 6 million cubic meters of gas per day. It will also have a storage capacity of 1.6 million barrels of oil.

Keppel Shipyard's contract from SOFEC is for the fabrication of a Turret Mooring system for a newbuild Floating Liquefied Natural Gas (FLNG) vessel bound for the Coral South FLNG Project in offshore Mozambique. Fabrication is scheduled to commence in 1Q 2018 with delivery of the turret components expected in 1Q 2020.

The above contracts are not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.


United States >>  6/30/2022 - U.S. Energy Corp. has entered into an agreement (the “Agreement”) to acquire operated oil and gas producing properties in an all-cash transaction (the...
Tanzania >>  6/29/2022 - Wentworth, the independent, Tanzania-focused natural gas production company, is pleased to provide an update on its agreement with Scirocco Energy plc...

Tanzania >>  6/29/2022 - Scirocco Energy, the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is please...
United States >>  6/29/2022 - A 51 percent stake in the North Platte deep water development project in the US Gulf of Mexico will be sold by Equinor to Shell. Shell will take over ...

Brazil >>  6/27/2022 - Petrobras, following the announcements released on 02/08/2021, 08/25/2021 and 10/01/2021, informs that it restarted the sale processes of the Abreu e ...
South Africa >>  6/27/2022 - In accordance with a farmout agreement (the "Agreement"), Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with a focus on the offsh...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.