Sembcorp Marine Ltd, through its wholly-owned subsidiary, Estaleiro Jurong Aracruz, has secured an Amendment Contract from Tupi B.V. valued at about USD175 million (approximately SGD230 million) for modification work to be completed on the Floating Production Storage and Offloading (FPSO) P-71 oil and gas vessel.
Originally designed for the Tupi field, the FPSO P-71 will undergo modification and integration at EJA for deployment at the Itapu field. EJA’s scope of work includes modification of existing systems and integration of additional systems to the vessel (the “Project”).
Measuring 316m in length and 54m in width, the FPSO P-71 is capable of handling 150,000 barrels of oil per day and six million standard cubic metres of natural gas in operation. It has a storage capacity of 1.6 million barrels of oil and can accommodate 160 people. The vessel is expected to be delivered in the last quarter of 2022.
Mr Guhan Thangavelu, President of EJA said, “Our EJA Yard, noted to be one of the largest and most advanced yards in Brazil for offshore products and solutions, is strategically located on the east coast of Brazil to service field developments in the Atlantic, the Gulf of Mexico and West African sectors. This project provides an opportunity to showcase EJA’s capabilities to undertake large scale and complex engineering projects with quick design adaptation and superior subsea layout.”
“We thank Tupi B.V. and its partners for choosing Sembcorp Marine and the EJA team to deliver another floater to augment its world-class assets for deployment in deep and ultra-deep waters. Amid the pandemic-induced challenges, we remain committed to the safe and timely execution of the project.”
In September 2019, EJA delivered the newbuild FPSO P-68 to Tupi B.V. which is currently deployed at the ultra-deepwater Berbigão and Sururu fields in Brazil’s Santos Basin.
The Amendment Contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the Company for the year ending 31 December 2021.
Image source: Courtesy of Sembcorp Marine
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