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Singapore shipbuilder capturing big contracts for South America floaters

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Keppel Offshore & Marine has secured yet another contract for a South America-bound floater. The company announced on Monday that it was hired for the turnkey delivery of P-78, one of the largest Floating Production, Storage and Offloading (FPSO) vessels in the world for operations at the Santos Basin in Brazil.

“Scheduled for completion in late 2024, the FPSO will be customised for deployment in Brazil’s prolific Buzios field, described as the largest deepwater oil field in the world,” Keppel said. “With a production capacity of 180,000 barrels of oil per day (bopd), 7.2 million cubic metres of (mcbm) gas per day and a storage capacity of 2 million barrels of oil, the P-78 will rank among the largest in the global operating fleet of FPSOs.”

The contract is on an engineering, procurement and construction (EPC) basis, with project execution spanning multiple locations globally. Keppel O&M will fabricate the topside modules weighing 43,000 metric tonnes (MT) at its shipyards in Singapore, China and Brazil, as well as undertake the integration and commissioning works of the FPSO. Keppel O&M’s partner, Hyundai Heavy Industries Co., Ltd. (HHI), will provide the 85,000MT hull and the living quarters for 240 persons. Upon completion, the FPSO will transit to the Buzios field, where Keppel O&M will carry out the final phase of offshore commissioning works.

Mr Chris Ong, CEO of Keppel O&M, said, “We are pleased to support Petrobras with another major FPSO where we are taking on a much larger scope than ever before. This project taps our well-recognised capabilities as a leading integrator of offshore energy and infrastructure assets, leveraging our strengths in engineering and project management, with a focus on higher value-adding work.

“It is also aligned with the transformation plans which we had announced, where not all of the work will be done at our yards. We are excited to partner with industry leaders like HHI and DORIS Engenharia in Brazil, harnessing our complementary strengths and enabling Keppel O&M to expand our turn-key offerings across the value chain. At the same time, we are able to utilise our global network of operations and bring a sizeable amount of the work to Brazil, generating thousands of job opportunities for the local eco-system.”

Keppel O&M has delivered a significant number of projects for Brazil and Petrobras over the years, which includes FPSOs, production platforms, Floating Storage Regasification Units, drilling rigs and accommodation vessels, to support Brazil’s energy infrastructure.

The company delivered Guyana’s first FPSO in 2019 – the Liza Destiny – and is currently wrapping up work on the Liza Unity for phase 2 of oil production operations in the South American country. The vessel will set sail for Guyana in June. Additionally, Keppel has been awarded contracts for the Prosperity FPSO for the third development at the ExxonMobil-operated Stabroek Block.

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