Keppel subsidiary bags $190m deal

The FPSO will be able to process 150,000 barrels of oil and 5 million cubic metres of gas daily.

Repeat customer MODEC Offshore Production Systems (Singapore) has awarded Keppel Offshore & Marine subsidiary Keppel FELS Brasil SA's BrasFELS shipyard a Floating Production Storage and Offloading (FPSO) module fabrication and integration project worth $190 million.

According to a press release, BrasFELS' work scope will comprise the fabrication and integration of nine topside production modules for the FPSO Cidade de Campos dos Goytacazes MV29. The FPSO will be deployed at Tartaruga Verde and Tartaruga Mestiça Fields in 2017.

Meanwhile the contract is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.