13 Feb '11, 10pm

Keppel secures $385m Brazil deal #Brazil

Singapore - Conglomerate Keppel Corporation's shipyard in Brazil has won two separate contracts, worth a total of 500 million Brazilian real ($385.6 million), to build parts of two floating production storage and offloading (FPSO) vessels. The world's largest offshore rig-builder said that the BrasFELS yard in Angra dos Reis, Rio de Janeiro, owned by its unit Keppel FELS Brasil, secured the contracts from Dutch firm Single Buoy Moorings and from MTOPS, a Singapore-based joint venture company of Japan's Mitsui Ocean Development & Engineering and Toyo Offshore Production Systems. Keppel Corp said construction of the topside modules for both the FPSOs is expected to begin in the first quarter of this year, with deliveries scheduled in the fourth quarter of next year. The FPSOs, which are used to process and store oil and gas from a nearby rig, will be deployed in the pre-salt...

Full article: http://www.todayonline.com/Business/EDC110214-0000121/Kep...

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