Keppel Offshore & Marine has secured two contracts worth a combined $73 million from MODEC Offshore Production Systems in Singapore and Brazil.
As part of the contract in Singapore, Keppel will fabricate, complete and integrate the topside models and mooring support structure for a floating production storage and offloading vessel (FPSO).
The components for the models and mooring support structure are scheduled to arrive in the third quarter of 2020 for completion, as well as integration and installation with the FPSO hull, which is expected in the yard in the fourth quarter.
Keppel expects the FPSO to be delivered in the second quarter of 2021, with it being equipped to process 90,000 barrels of oil and 75 million standard cubic feet of has per day and a storage capacity of 700,000 barrels of oil.
In addition, the company has also been awarded a contract in Brazil for a topside module fabrication contract for an FPSO for the Buzios field in the Santos Basin, located off the coast of Rio de Janeiro, Brazil.
Keppel is expected to commence work in the third quarter of 2020 at the BrasFELS shipyard in Angra dos Reis, with delivery scheduled for the fourth quarter of 2021.
Following competition, the vessel will be capable of processing 150,000 barrels of oil and 212 million standard cubic feet of gas per day, with a minimum storage capacity of 1.4 million barrels of oil.
Keppel chief executive officer Chris Ong said the company was pleased to be chosen by MODEC as a trusted partner to execute and deliver its key projects.
“We have built a solid track record of 11 projects completed with the MODEC group of companies over the years, which include FPSO conversions, module fabrication and integration works, as well as turret projects,” Ong said.
“Against the backdrop of COVID-19, Keppel O&M has implemented enhanced safety measures to ensure the safety of our staff and customers, while leveraging technology and innovation to ensure that our operations can continue in a safe and efficient manner.”
MODEC president Anthony Quinn added that Keppel’s expertise, experience and reliability as a solutions provider both in Singapore and Brazil contributed to the company’s success.
“We have confidence in Keppel’s track record and ability to deliver in spite of the current challenging environment, as we continue to support Brazil’s significant oil and gas industry,” Quinn said.
“While low oil prices amidst a global pandemic marks a difficult time for the industry, we are confident that there is continued demand for energy in the long-term as the global economy gears up for recovery.”