KSOE Lands a 2.5-tril.-won FPSO Project from Brazil’s Petrobras

Korea Shipbuilding & Offshore Engineering (KSOE) announced on May 11 that it has signed a 2.5-trillion-won contract to build one floating production storage and offloading (FPSO) unit for Petrobras, Brazil. The Korean shipbuilder will carry out the project together with Keppel Shipyard of Singapore.

KSOE will produce the hull of the FPSO with Keppel Shipyard producing the topside. The total contract amount for the hull is 850 billion won.

The FPSO is 345 meters long, 60 meters tall and 34 meters wide, and weighs 128,000 tons. It can produce 180,000 barrels of crude oil and 7.2 million cubic meters of natural gas a day.

Hyundai Heavy Industries in Ulsan will build the FPSO on an EPC basis. The FPSO will be installed at Buzios Field, 210 kilometers southeast of Rio de Janeiro, Brazil, in the second half of 2024, according to the project schedule.

Discovered in May 2010, Bujios Field is the world’s largest deep-sea oil field with estimated crude oil reserves of three billion barrels. Petrobras currently operates four FPSOs in the region and plans to produce two million barrels of crude oil a day by running eight more by 2030.
Source: Business Korea