The P-56 will be a repeat of the P-51 FPU (its lower hull is on the left in the background) which is currently being built at Keppel FELS Brasil’s BrasFELS yard. In the foreground is the P-52 FPU departing the yard on 11 September 2007.
The consortium of Keppel FELS Brasil S/A and Technip Brasil Engenharia, Instalacoes e Apoio Maritimo S/A (Technip), FSTP Pte Ltd, has secured a US$1.2 billion contract to build a semisubmersible Floating Production Unit (FPU) for Petrobras Netherlands BV (PNBV)
FSTP is a 75/25 consortium company between Keppel Offshore & Marine (Keppel O&M) and Technip. The rig, to be named P-56, is expected to be delivered ex-yard in the last quarter of 2010.
P-56 will be a repeat of the P-51 FPU which is currently being built at Keppel FELS Brasil’s BrasFELS yard.
With this contract, the total orders secured to-date in 2007 by Keppel O&M is S$6.25 billion.
Mr Tong Chong Heong, Managing Director and Chief Operating Officer of Keppel O&M, the parent company of Keppel FELS Brasil, said, “We are glad to support Petrobras in their pursuit of national content as they expand oil and gas production capacity.
The Second rig contract is from repeat customer. Slated for delivery at end 2009, the drilling tender will be built to Keppel FELS’s proprietary design, the KFELS SSDT™ 3600E.
“Our ‘Near Market, Near Customer’ strategy has enabled us to better serve our customer, Petrobras, while participating with them the creation of jobs in the country. We look forward to further strengthen our relationship with Brazilian offshore oil and gas companies. We want to be their strategic partner as they pursue the expansion of their business.”
Keppel FELS Brasil will carry out the detailed engineering of the lower hull and accommodation, as well as the construction and integration of the entire FPU. Technip will be responsible for the overall engineering and detailed engineering of the topside and offshore mating.
With displacement of 50,000 tonnes, the FPU will be 110 meters long and wide, and 125 meters tall. It is expected to operate for 25 years.
The P-56 will be positioned at depths of 1,700 meters and about 124 km off the coast. Capable of processing and treating 170,000 barrels of liquids and 100,000 barrels of 16? API oil, 6 million cubic meters of natural gas, and of injecting some 280,000 barrels of water in the reservoir, the P-56 will be connected to 22 wells, 11 of which are oil and gas producers and 11 are to inject water.
Keppel O&M has participated in more than 10 projects directly and indirectly for Petrobras and is currently carrying out several projects for the Campos region. It has just completed the conversion of the P-53 shipshape FPU which will have the world’s largest turret. It has delivered to the field location the P-52 FPU, which is expected to achieve first oil soon. The P-51 FPU is currently under construction at Keppel FELS Brasil’s BrasFELS yard.
Keppel FELS Brasil is a wholly-owned subsidiary of Singapore listed Keppel Corporation Limited through Keppel O&M. It operates BrasFELS yard in Angra dos Reis, which is the most comprehensive shipyard in the Southern Hemisphere. Keppel O&M is a global leader in design and construction of offshore rigs, ship conversion and repair and specialised shipbuilding. Its ‘Near Market, Near Customer’ strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry.
Technip Brasil Engenharia, Instalacoes e Apoio Maritimo S/A is a wholly-owned subsidiary of Technip Offshore International (headquartered in Paris), controlled by TECHNIP S.A. which is ranked among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services.
PNBV is a wholly-owned subsidiary of Petrobras SA, which is the state oil company of Brazil, engaged in exploration, production, refining, trading and transportation of petroleum and its by-products at home and abroad.
The contract is not expected to have material impact on the net tangible assets and earnings per share of Keppel Corporation for the financial year ending 31 December 2007.
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