Keppel Offshore & Marine has won a tender from Petrobras to undertake the engineering, procurement, and construction (EPC) for FPSO P-83 for about $2.8 billion. The vessel is destined for the Buizos field offshore Brazil.
Scheduled for delivery in the first half of 2027, the P-83 is a repeat order of the P-80 FPSO that Keppel O&M secured in August this year. The contract will be on progressive milestone payments and adds approximately $2.65 billion to Keppel O&M’s order book bringing it to over $8.2 billion as at 28 September.
As a repeated order, the P-83 will be identical to the P-80 in specifications and execution methodology, including adapting the design and engineering as well as leveraging economies of scale in the procurement of materials.
The fabrication of the topside modules will be replicated across Keppel O&M’s facilities in Singapore, China, and Brazil, while the construction of the hull and accommodation module will be done by CIMC Raffles in China. Integration of the separate components will be carried out in Singapore, with the final phase of offshore commissioning works undertaken by Keppel O&M when the FPSO arrives at the Buzios field.
The P-83 will be the third FPSO that Keppel O&M is building for Petrobras for the field. In addition to the P-80, Keppel O&M is currently working on the P-78 FPSO which was awarded in May 2021.
When completed, the FPSOs will be among the largest floating production units in the world. The P-83 has a production capacity of 225,000 B/D of oil, water- injection capacity of 250,000 B/D, 12 million m3/D of gas processing, and a storage capacity of 2 million bbl of oil.
“We are pleased to be awarded a third newbuild turnkey FPSO by Petrobras,” said Chris Ong, chief executive of Keppel O&M. “We are able to draw insights from the first of our newbuild FPSOs, the P-78, which is progressing well and contributing to Keppel O&M’s earnings. As the P-83 and P-80 are identical units, greater economies of scale and productivity gains can be expected as we are able to further optimize the engineering and construction process, as well as fully leverage technology and the seamless coordination with our partners in the execution.”
The P-83, P-80, and P-78 FPSO trio will be equipped with green technologies such as carbon capture utilization and storage to separate the carbon, re-inject it back into the reservoir where it is stored, and minimize the need for gas flaring. The FPSOs will also feature energy recovery systems for thermal energy, waste heat and gas, and seawater deaeration to reduce the consumption of fuel and the carbon emissions of the vessel.
BrasFELS, Keppel O&M’s yard in Angra dos Reis, Brazil, is currently also undertaking integration and fabrication work for two other FPSOs that will operate in the Sepia and Buzios fields.
