Keppel clinches marine contracts worth $165 million from Petrobras & Saipem

Another two contracts. You are man!!

-----------------------------------------------------------------------------------


Singapore, 25 November 2009 – Keppel Offshore & Marine Ltd (Keppel O&M), through Keppel Shipyard Limited (Keppel Shipyard) and Keppel Verolme BV (Keppel Verolme), has secured two contracts worth a total of about $165 million.

The first project, secured by Keppel Shipyard from repeat customer Petrobras Netherlands B.V (PNBV), is for the pre-conversion of P-58, a Floating Production Storage and Offloading (FPSO) vessel for the Campos Basin.

The second project involves the repair and modification of the semisubmersible pipelay vessel, Castoro Sei for Saipem S.p.A (Saipem) by Keppel Verolme.

Mr Tong Chong Heong, CEO of Keppel O&M said, "As a Group, Keppel O&M has built a strong reputation and a trusted brand name for diverse projects with safe and efficient turnaround.

“We hope that with our versatility, experience and expertise, we continue to be provider of choice for the international market.”

Mr Renato de Souza Duque, Services Director of Petrobras, said, “We know Keppel very well. They have completed many projects for us successfully and have demonstrated excellent project management and reliability. We look forward to another high quality project from them.”

Keppel Shipyard’s scope of work on P-58 includes structural and piping renewal, tank coating as well as refurbishment and upgrading of the accommodation.

When completed in the first quarter of 2011, the vessel will sail to Brazil for the rest of the conversion which includes completion works of the topsides.

P-58 will have a production capacity of 180,000 barrels of oil per day (bopd) and gas compression capacity of 6,000,000 m3 per day. It will operate in Parque das Baleias’ north field, in Campos Basin and spread moored in a water depth of 1,400 metres.

“We are pleased to work on another major project with our valued customer Petrobras. The fruitful relationship we have built up with them over the years will enable us to work hand in hand to complete this project successfully,” Mr Tong added