Keppel FELS’ Brazilian subsidiary wins US$75 million FPSO conversion contract

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06-February-2001

The Brazilian subsidiary of Keppel FELS Ltd, FELS SETAL SA, has clinched a major contract from Halliburton Productos Ltd for the marine conversion of tanker, Stena Concordia, now renamed Petrobras 48, into a Floating Production Storage and Offloading facility (FPSO) for the Caratinga Field in the Campos Basin of Brazil.

The 273,200 dwt tanker will be converted into an FPSO with a daily production capacity of 150,000 barrels, and 6 million cubic metres of gas, and a storage capacity of 2 million barrels of oil.

The yard expects to complete the marine conversion works on the FPSO in the last quarter of 2002.

Keppel FELS ‘near-market, near-customer’ strategy has proven to be successful in FELS SETAL. The Brazilian joint venture has greatly enhanced Keppel FELS’ ability to meet the demands of its customers based in South America and the Mercosul region.

FELS SETAL’s current projects include the upgrading and installation of a dewatering plant on the platform Sedco 135D for Schlumberger & Transocean SedcoForex, the Queima Zero project involving six platforms in the Cabiunas Field where natural gas is diverted into used wells, the installation of a water injection on the platform Cherne 1 and on-site maintenance and system upgrades on two FPSOs, P33 and P35, for Petrobras and repairs and maintenance on the platform, Legend, for Transocean SedcoForex.

It has also completed repairs on the Ocean Clipper for Diamond Offshore, Stena Tay for Stena Services, Seillean for R & B Falcon and the fabrication of four caissons for Santa Fe Synder.

Incorporated in March 2000, FELS SETAL is a 60/40 percent joint venture between Keppel FELS Ltd and the PEM SETAL Group of Brazil respectively.

Halliburton Produtos Ltda is a Brazilian affiliate of Kellogg Brown & Root Inc which has secured a US$2.5 billion project for the development of the production facilities in the Barracuda and Caratinga Fields in the Campos Basin.

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