Keppel Shipyard bags $2.3bn Petrobras FPSO projectKeppel Shipyard bags $2.3bn Petrobras FPSO project

The P-78 will be a newbuild FPSO with 180,000 barrels of oil per day (bpd), 7.2m cu metres of gas per day and a storage capacity of 2m barrels of oil.

The topside modules of the FPSO will be fabricated at Keppel’s yards in Singapore, China and Brazil, while the 85,000 tonne hull and living quarters will be built by Hyundai Heavy Industries (HHI) in South Korea. Keppel will undertake the integration and commissioning works for the FPSO.

Upon completion, the FPSO will transit to the Buzios field, where Keppel O&M will carry out the final phase of offshore commissioning works. 

The $2.3bn project is expected to be delivered in 2024 and will be based of progressive milestone payments.

Chris Ong, CEO of Keppel Offshore & Marine, parent of Keppel Shipyard, said ““We are pleased to support Petrobras with another major FPSO where we are taking on a much larger scope than ever before. This project taps our well-recognised capabilities as a leading integrator of offshore energy and infrastructure assets, leveraging our strengths in engineering and project management, with a focus on higher value-adding work.

“It is also aligned with the transformation plans which we had announced, where not all of the work will be done at our yards. We are excited to partner with industry leaders like HHI and DORIS Engenharia in Brazil, harnessing our complementary strengths and enabling Keppel O&M to expand our turn-key offerings across the value chain,” he added.

Related:Keppel to exit rigbuilding, focus on energy transition

Keppel O&M announced earlier this year it would exiting the offshore rigbuilding sector to focus renewable energy and higher value-added projects.