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Keppel O&M awarded US$2.3 bil contract to build FPSO for Petrobras

Felicia Tan
Felicia Tan5/10/2021 09:23 PM GMT+08  • 3 min read
Keppel O&M awarded US$2.3 bil contract to build FPSO for Petrobras
The contract, which will be on progressive milestone payments, is not expected to have a material impact on the coming FY.
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Keppel Shipyard, the wholly-owned subsidiary under Keppel Offshore & Marine (Keppel O&M), has secured a contract worth US$2.3 billion ($3.05 billion) from Brazil’s National Oil Company, Petroleo Brasileiro S.A (Petrobras), for the turnkey delivery of P-78, a Floating Production, Storage and Offloading vessel (FPSO).

The contract was won on the basis of an international tender.

The FPSO is scheduled to be completed in late 2024, and will be customised for deployment in Brazil’s Buzios field, the largest deepwater oil field in the world.

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