Keppel Offshore & Marine (Keppel O&M) has, through its wholly owned subsidiaries in Singapore and Brazil, secured two contracts worth a combined value of about $73 million.

The contracts were awarded by Modec Offshore Production Systems (Singapore), a subsidiary of Tokyo-listed Modec Inc, which provides floating solutions for the offshore oil and gas industry.

In Singapore, Keppel Shipyard will fabricate, complete and integrate the topside modules and mooring support structure for a floating production storage and offloading vessel.

Slated for delivery in the second quarter of next year, this vessel will be able to process 90,000 barrels of oil and 75 million standard cubic feet of gas per day. It will have a storage capacity of 700,000 barrels of oil, said Keppel Corp yesterday.

In Brazil, Keppel O&M's BrasFELS shipyard was awarded a topside module fabrication contract for a floating production storage and offloading vessel for the Buzios field in the Santos Basin, off the coast of Rio de Janeiro. Work on the vessel is expected to start in the third quarter of this year at the BrasFELS shipyard in Angra dos Reis.

Delivery of the vessel is scheduled for the fourth quarter of next year.

It will be capable of processing 150,000 barrels of oil and 212 million standard cubic feet of gas per day, with a minimum storage capacity of 1.4 million barrels of oil.

THE BUSINESS TIMES