Congratulations to Keppel Offshore & Marine for winning a US$2.9b newbuild FPSO P-80 contract from PETROBRAS PETROLEO BRASILEIRO SA.
Keppel Offshore & Marine (Keppel O&M)’s wholly-owned subsidiary, Keppel Shipyard, has won an international tender from Brazil’s National Oil Company, Petroleo Brasileiro S.A (Petrobras), for the engineering, procurement, and construction (EPC) of P-80, a Floating Production, Storage and Offloading vessel (FPSO) for about US$2.9b. Scheduled for completion in 1H 2026, the P-80 is the second FPSO that Keppel O&M will be building for Petrobras for the Buzios field in Brazil. The first FPSO, P-78, is currently under construction by Keppel Shipyard. The P-80 is structured on progressive milestone payments and will be cash-flow neutral during its execution lifecycle. It would add over S$4bn to Keppel O&M’s order book.
The P-80 will be one of the largest floating production units in the world with a production capacity of 225,000 barrels of oil per day (bopd), water injection capacity of 250,000 bpd, 12 million cubic metres of (Sm3/d) of gas processing per day and a storage capacity of two million barrels of oil. When completed, the P-80 will be on par with the largest oil producing platforms in Brazil.
Source: Keppel Corporation Limited
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