Keppel Is in Final Negotiations With Petrobras to Build FPSO P-78 at Búzios Field in Santos Basin Pre-Salt

Keppel Corporation of Singapore stated in a business update that it is negotiating with Petrobras for the construction of the FPSO P-78 platform in the Búzios field in the pre-salt of the Santos Basin

In a first-quarter business update, Keppel Corporation of Singapore stated that it is in advanced negotiations with Petrobras for the P-78 FPSO project in the Santos Basin. In January, Keppel had already made a major announcement that, as part of a new transition, it was withdrawing from the pre-salt platform construction business. The company’s division, which specializes in FPSOs and other types of facilities, will remain only as a core part of the business.

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• Shipbuilding: Bidding for Petrobras Platforms P-78 and P-79 Is Contested Only by Asian Shipyards
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Keppel Aims to Add More in the Offshore Industry with Petrobras

According to Keppel Corporation’s CEO, Loh Chin Hua, the company was not only aiming for monetization of the platforms but also exploring whether it could engage in time charters. He stated that his team is working hard and the company is assembling a group of people who can lead these efforts, given that the skill sets required for the work are somewhat different from those currently within the company.

According to the CEO of Keppel Offshore & Marine, the company was negotiating in several areas beyond purchasing, such as operation and leasing; however, it is still early to declare anything, as chartering heavily depends on the schedules of charter contracts.

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The construction of the P-78 FPSO, operated by Petrobras in the Santos Basin, was a good example of how Keppel acts as an integrator of offerings in the offshore industry.

FPSOs in the Brazilian Pre-Salt

The acronym comes from English for Floating Production Storage And Offloading. It refers to a platform vessel that produces, stores, and transfers oil and gas, and is essential for oil extraction in both pre-salt and post-salt areas. Its crew capacity can reach up to 160 people.

The fleet of FPSOs in the Brazilian pre-salt consists of 23 vessels. 22 of them are chartered by Petrobras, with 10 being owned by the company and 12 being leased from third parties.

Santos Basin

As the largest offshore sedimentary basin in the country, the Santos Basin covers a total area of over 350 km², extending from Cabo Frio (RJ) to Florianópolis (SC). Petrobras’s first investments in studies about production in the Santos Basin began in the mid-1970s.

Through a Long Duration Test (LDT), operations in the pre-salt of the Santos Basin began on May 1, 2009, marking a milestone not only for Petrobras but for all of Brazil.