The Brasfels Shipyard Signed Today (22) The Contract For The Construction Of The Topside Module And Integration Of The FPSO Carioca MV30!
In Brazil, the BrasFELS shipyard and Keppel FELS Brasil Ltda (Keppel FELS Brasil) were contracted TODAY, JULY 22, 2018 by their long-time client, MODEC Offshore Production Systems (Singapore) Pte Ltd., part of the MODEC, Inc. group (collectively “MODEC”), to undertake the fabrication of the topside module and the integration of the FPSO Carioca MV30, a Floating Production Storage and Offloading (FPSO) vessel. This marks the sixth FPSO collaboration between Keppel FELS Brasil and MODEC.
In Singapore, Keppel Shipyard Ltd (Keppel Shipyard) has been tasked with the conversion of a LNG carrier into a Floating Storage and Regasification Unit (FSRU) for a leading global operator of oil and gas production vessels.
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Chris Ong, CEO of Keppel O & M, stated: “Keppel O & M has a strong track record in production, storage, regasification, or liquefaction vessels, having successfully delivered more than 130 of these units over the years.
“The FPSO Carioca MV30 is our 11th FPSO project for Brazil, and as the most established shipyard in Brazil, BrasFELS is well positioned to deliver it to the executive excellence of Keppel O & M. Meanwhile, for Keppel Shipyard, this is our fourth FSRU conversion contract and is part of our comprehensive set of solutions for the gas value chain.”
Construction Will Begin Later in 2018
The BrasFELS shipyard, a unit of Keppel FELS Brasil in Angra dos Reis, Rio de Janeiro, Brazil, will begin the fabrication of the FPSO modules in Q4 2018. Once completed, the FPSO Carioca MV30 will have the capacity to process 180,000 barrels of crude oil per day (bpd) and 212 million cubic meters of gas per day. The unit’s storage capacity is 1.4 million barrels of crude oil. The FPSO will be deployed in the Sepia field, located in the pre-salt region of the Santos Basin, approximately 250 kilometers off the coast of Rio de Janeiro, Brazil.
Mr. Sateesh Dev, President and CEO of MODEC Pte Ltd., said: “Brazil continues to increase its production capacity to explore its significant oil and gas reserves. MODEC is committed to supporting the country’s energy aspirations and is pleased to have a good partner in the Keppel Group to support us on this journey. In fact, BrasFELS has been our shipyard of choice in Brazil due to its reliability, cost-efficiency, and ability to meet our needs.”
For the FSRU conversion project, in addition to repair and life extension work, Keppel Shipyard will perform engineering, installation, and integration work for the regasification module and upgrades to the cargo handling system. Scheduled for delivery by the end of 2018, the FSRU will be able to regasify up to 750 million standard cubic feet of natural gas per day.
Keppel Shipyard has already delivered three FSRUs, including the world’s first FSRU conversion. With the increasing demand for LNG in power generation, FSRUs are a fast, flexible, economical, and safe storage, regasification, and protection solution suitable for deployment in remote areas with lower power requirements. The world’s first converted FLNG vessel, Hilli Episeyo, achieved final acceptance and commenced commercial operations for Perenco in Cameroon. This was accomplished within four years of awarding the contract to Keppel Shipyard.
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.
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