TechnipFMC Awarded Flexible Pipe Frame Agreements by Petrobras in Brazil

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TechnipFMC has been awarded three frame agreements by Petrobras that will reaffirm the Company’s leadership position in Brazil’s flexible pipe market – the industry’s largest and most established market. Altogether, the frame agreements form a large(1) contract for TechnipFMC.

The contracts were awarded as part of Petrobras’s drive to increase oil recovery in its brownfield developments, mainly in post-salt fields offshore Brazil.

The frame agreements cover the manufacture of more than 500 kilometers of flexible pipe over the next four years, as well as services. This brings the Company’s total contracted volumes in the current year with Petrobras to around 600 kilometers.

Jonathan Landes, President, Subsea at TechnipFMC, commented: “Petrobras is a longstanding partner of ours. Through collaboration and leveraging our expertise to engineer, design, and manufacture solutions specifically for this environment, we successfully delivered a flexible solution that maximizes oil recovery in the Brazilian deepwater environment.”

1 For TechnipFMC, a “large” contract is between $500 million and $1 billion.

Source: TechnipFMC

Saipem, in JV with DSME, awarded a contract by Petrobras for a new FPSO in the Búzios offshore field in Brazil

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Saipem, leading of a joint venture with Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), a main South Korean specialized shipbuilding and offshore contractor, has been awarded by Petróleo Brasileiro (Petrobras) a contract for the construction of the Floating Production Storage and Offloading Vessel (FPSO) named P-79 for the development of Búzios offshore field in Brazil.

The FPSO P-79 project is worth overall approximately 2.3 billion USD. Saipem’s portion is approximately 1.3 billion USD.

The FPSO vessel will allow initial separation of gas from the oil extracted in the deep offshore reservoir and will have a production capacity of 180,000 barrels of oil per day (bopd) and 7.2 million cubic metres of (mcbm) gas per day, with a storage capacity of two million barrels of oil.

Saipem and DSME will execute the entire FPSO project which encompasses the engineering, procurement, fabrication and integration of the topsides of the FPSO units and the installation of the mooring systems, as well as the hookup, the commissioning and the start-up.

The Búzios field, the world’s largest deepwater oil field, is located in the region of the pre-salt Santos Basin, approximately 200km off the coast of Rio de Janeiro at water depths ranging from 1,600m to 2,100m. Saipem is already present in the Búzios field where is executing a rigid subsea system installation contract.

Source: Saipem

Keppel Offshore & Marine awarded US$2.3b contract to build FPSO for Petrobras

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Keppel Offshore & Marine (Keppel O&M)’s wholly owned subsidiary, Keppel Shipyard, has secured a contract, on the basis of an international tender, 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).  

Scheduled for completion in late 2024, the FPSO will be customised for deployment in Brazil’s prolific Buzios field, described as the largest deepwater oil field in the world. With a production capacity of 180,000 barrels of oil per day (bopd), 7.2 million cubic metres of (mcbm) gas per day and a storage capacity of 2 million barrels of oil, the P-78 will rank among the largest in the global operating fleet of FPSOs.

The contract is on an engineering, procurement and construction (EPC) basis, with project execution spanning multiple locations globally. Keppel O&M will fabricate the topside modules weighing 43,000 metric tonnes (MT) at its shipyards in Singapore, China and Brazil, as well as undertake the integration and commissioning works of the FPSO. Keppel O&M’s partner, Hyundai Heavy Industries Co., Ltd. (HHI), will provide the 85,000MT hull and the living quarters for 240 persons. Upon completion, the FPSO will transit to the Buzios field, where Keppel O&M will carry out the final phase of offshore commissioning works. 

Mr Chris Ong, CEO of Keppel O&M, said, “We are pleased to support Petrobras with another major FPSO where we are taking on a much larger scope than ever before. This project taps our well-recognised capabilities as a leading integrator of offshore energy and infrastructure assets, leveraging our strengths in engineering and project management, with a focus on higher value-adding work. 

“It is also aligned with the transformation plans which we had announced, where not all of the work will be done at our yards. We are excited to partner with industry leaders like HHI and DORIS Engenharia in Brazil, harnessing our complementary strengths and enabling Keppel O&M to expand our turn-key offerings across the value chain. At the same time, we are able to utilise our global network of operations and bring a sizeable amount of the work to Brazil, generating thousands of job opportunities for the local eco-system.”   

Keppel O&M has delivered a significant number of projects for Brazil and Petrobras over the years, which includes FPSOs, production platforms, Floating Storage Regasification Units, drilling rigs and accommodation vessels, to support Brazil’s energy infrastructure. 

BrasFELS, Keppel’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 field and the Buzios field. 

The above contract will be on progressive milestone payments. It is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.

Source: www.kepcorp.com

TechnipFMC Awarded a Significant Subsea Contract for Petrobras’ Marlim and Voador Fields

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TechnipFMC announced that it has been awarded a significant subsea contract from Petrobras for the Marlim and Voador fields, located offshore Brazil.

TechnipFMC will supply up to eight manifolds for production and injection, utilizing the all-electric Robotic Valve Controller (RVC). The contract also includes associated tools, spares and services.

The RVC is a unique robotic technology that replaces traditional subsea hydraulics, as well as thousands of mechanical parts, while providing real-time data and analysis on system performance. This results in a manifold that is smaller, less complex and less costly with a significantly reduced carbon footprint. Moreover, the RVC’s software can be remotely upgraded and maintained subsea, increasing the overall reliability and availability of the subsea system.

Jonathan Landes, President Subsea at TechnipFMC, commented: “We are honored that Petrobras has selected us to support the ongoing development of the Marlim and Voador fields. We look forward to executing this project using our local capabilities in Brazil and contributing to another important development in the country.

“We are very excited to bring new technology and automation capabilities to this project through the use of the RVC to operate the manifolds. Our innovations in automation and electrification are helping our clients lower their operational expenditures and reduce the carbon intensity of their subsea projects.”

For TechnipFMC, a “significant” contract is between $75 million and $250 million.

Note: this inbound order was included in the Company’s first-quarter financial results.

Source: www.technipfmc.com

Technip-Petropipe

TechnipFMC wins Subsea EPCI for the Libra Consortium’s Mero 2 Project, operated by Petrobras in Brazil

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TechnipFMC has been awarded a large(1) contract for Engineering, Procurement, Construction and Installation (EPCI) through a competitive contracting process, by Petrobras, the leader, and operator of the Libra Consortium, which was formed by Petrobras, Shell Brasil, Total, CNPC, CNOOC Limited and Pré-sal Petróleo SA (PPSA), for the pre-salt Mero field, located in the Santos Basin (Brazil) at 2,100 meters deep.

The contract covers engineering, procurement, construction, installation and pre-commissioning of the infield rigid riser and flowlines for production, including the water alternate gas wells. It also comprises the installation and pre-commissioning of service flexible lines and steel tube umbilicals, as well as towing and hook up of the FPSO(2).

The Company will leverage synergies with the Mero 1 project Subsea EPCI, utilizing in-house rigid and flexible lay vessels and its significant local footprint in Brazil, including a spoolbase, logistics base and engineering capabilities. The offshore campaign is scheduled to start in 2022.

Arnaud Pieton, President Subsea at TechnipFMC, commented: “We are delighted to have been awarded another EPCI contract by the Libra Consortium, which reinforces the long-standing relationship between Petrobras and TechnipFMC. By executing and delivering this new flagship project, we are looking forward to supporting Petrobras’s ambition in the pre-salt region and contributing to the development of Brazil.”

  1. For TechnipFMC, a “large” contract ranges between $500 million and $1 billion.
  2. FPSO: Floating Production Storage and Offloading unit

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Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

Source: TechnipFMC

Petropipe

Saipem awarded a contract for the Búzios pre-salt field in Brazil worth approximately 325 million USD

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Saipem has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshore the state of Rio de Janeiro.

The Búzios-5 overall production system foresees the interconnection of 15 wells to the FPSO in two phases. The project awarded to Saipem includes the Engineering, Procurement, Construction and Installation (EPCI) of the Steel Lazy Wave Risers (SLWR) and associated flowlines between all wells and the FPSO. In particular, the scope of work includes five production and five injection risers and flowlines for a total length of 59 km, a 16 km-long gas export line to be connected to an existing pipeline, 11 rigid jumpers and 21 foundation subsea structures (risers and PLETs).

Saipem will use FDS, its state-of-the-art field development ship, for all the subsea works.

“Búzios is one of the world’s largest deepwater oil fields and it is very important for Saipem to contribute to such a significant project for Brazil, a country in which we have a long-established presence and track record of successfully-executed projects.” commented Francesco Racheli, Chief Operating Officer of Saipem’s E&C Offshore Division. “This new acquisition efficiently combines in-house capabilities and appropriate assets to carry out this ambitious endeavour and reinforces our reputation as a global provider of valuable solutions in a country offering great opportunities. We look forward to working alongside Petrobras to further develop Brazil’s resources and ensure the safe and timely achievement of the field’s full production output”.

Source: Saipem