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Keppel O&M bags $52.5m in FPSO contracts from MODEC

Photo: Keppel O&M Keppel OM Tuas Shipyard-Aerial View.jpg
Keppel Offshore & Marine (Keppel O&M) has bagged two FPSO contracts with MODEC worth a total of SGD73m ($52.5m).

The two contracts with MODEC Offshore Production Systems (Singapore) are for work at Keppel Shipyard in Singapore and BrasFELs in Brazil.

The contract in Singapore is for the fabrication, completion and integration the topside modules and mooring support structure for a Floating Production Storage and Offloading vessel (FPSO). Integration and installation of the topside modules and mooring support structure will take place when the hull arrives in the yard, which is expected in Q4 this year. The FPSO is slated for delivery in second quarter next year.

In Brazil BrasFELS shipyard has been awarded a topside module fabrication contract for the FPSO Almirante Barroso MV32 and work is expected to commence in 3Q 2020.

Chris Ong, ceo of Keppel O&M, said, “We are pleased to have been chosen by repeat customer, MODEC, as a trusted partner to execute and deliver its key projects wherever they are needed.

“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.”

Anthony Quinn, president and coo of MODEC Offshore Production Systems (Singapore), said, “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. 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.”

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