IMO ENVIRONMENTAL REGULATIONS
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Yes--Mostly
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Marine Log

P52 Christening

June 15, 2007

BrasFELS christens giant FPU

Brazilian President Luiz Inácio Lula da Silva yesterdar visited Keppel FELS Brasil's BrasFELS shipyard to witness the christening ceremony of Brazil's largest semisubmersible, the P-52 floating production unit (FPU).

The consortium of Keppel Offshore & Marine Ltd (Keppel O&M) and Technip Engenharia S/A is on track to deliver the P-52 to Petrobras Netherlands BV (PNBV) in the third quarter of 2007.

When the P-52 FPU contract was put out for tender in 2002 it was the first project for which Petrobras imposed a requirement that a minimum 60% of the total work be carried out in-country. The Keppel/Technip consortium has more than met the requirement.

With the delivery of the P-52, Keppel O&M's projects for Petrobras would have contributed at production capacity, 990,000 barrels of oil per day (bopd). This represents over 50% of Brazil's present production rate of 1.8 million bopd.

Mr Choo Chiau Beng, Chairman and Chief Executive Officer of Keppel O&M, said, "The completion of the P-52 floating production unit will establish Keppel as a key supporter of Brazil's effort to increase oil output from Campos Basin and other Brazilian oil fields with significant local content.

"The P-52 is a project management showcase, an engineering triumph and an example of solid teamwork between Petrobras and the Keppel/Technip consortium. Together, we have overcome cultural, geographical and technical challenges to complete this mammoth platform," he said.

P-52 is a FPU that stands at a height equivalent to 34 storeys and has the breadth of 10 Olympic swimming pools.

The platform will be anchored in a depth of 1,795 meters in the Roncador field, off the Campos Basin in Brazil, and will have the capacity to produce 180,000 bopd with medium API gravity of 28 and 9.3 million cu.m/day of gas.

In addition to the P-52 project, the Keppel/Technip consortium is also building the P-51 FPU. The consortium has just completed the construction of the lower hull, the modules and the deckbox and will soon conduct the marine mating of the deck box and spider deck weighing a total of some 49,000 tonnes.

Over in Singapore, Keppel Shipyard, another subsidiary of Keppel O&M, is completing the conversion of the P-53 FPSO and has just started work on Petrobras's first gas FPSO, the Espirito Santo, for Prosafe Production.

Keppel FELS Brasil is a wholly-owned subsidiary of Keppel O&M. It operates BrasFELS yard in Angra dos Reis, which is the most comprehensive shipyard in the Southern Hemisphere.

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