Advertisement
Singapore markets closed
  • Straits Times Index

    3,135.76
    -6.09 (-0.19%)
     
  • Nikkei

    39,910.82
    +744.63 (+1.90%)
     
  • Hang Seng

    16,589.44
    +78.00 (+0.47%)
     
  • FTSE 100

    7,682.50
    +52.48 (+0.69%)
     
  • Bitcoin USD

    61,866.83
    -31.70 (-0.05%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,124.66
    +28.39 (+0.56%)
     
  • Dow

    39,073.81
    +77.42 (+0.20%)
     
  • Nasdaq

    16,222.08
    +130.15 (+0.81%)
     
  • Gold

    2,093.70
    +39.00 (+1.90%)
     
  • Crude Oil

    80.29
    +2.03 (+2.59%)
     
  • 10-Yr Bond

    4.2070
    -0.0450 (-1.06%)
     
  • FTSE Bursa Malaysia

    1,538.02
    -13.42 (-0.86%)
     
  • Jakarta Composite Index

    7,311.91
    -4.20 (-0.06%)
     
  • PSE Index

    6,919.59
    -25.12 (-0.36%)
     

Seatrium secures FPSO topside modules fabrication contract from MODEC

As at 11.40am, shares in Seatrium are trading 0.1 cent higher or 0.98% up at 10.3 cents.

BrasFELS Shipyard, a member of the Seatrium group, has secured a contract from Offshore Frontier Solutions Pte. Ltd, a MODEC Group company, announced Seatrium on Dec 4. The latest win marks the eighth project collaboration between BrasFELS and MODEC.

The contract will see BrasFELS undertaking parts of the topside modules fabrication of a floating production storage and offloading (FPSO) for the Raia project in Brazil. BrasFELS’ scope of work comprises the fabrication of three modules: vapour recovery unit/ flare knockout (VRU/ FLARE KO); oil separation and stabilisation; and the flowline circulation and metering and utility systems.

The project will be undertaken by Seatrium’s BrasFELS shipyard located in Angra dos Reis, Rio de Janeiro, Brazil, and is expected to commence work in the first quarter of 2024.

"We are pleased to partner with MODEC on yet another FPSO topside modules fabrication project, affirming Seatrium’s position as a leading global player in FPSO newbuilds and conversions. Over the years, we have leveraged our deep engineering expertise, international yard footprint and strong track record to deliver over 260 floating production unit (FPU) and FPSO conversions & newbuilds, solidifying our market leadership in this product segment,” says Marlin Khiew, executive vice president, oil & gas (Americas), Seatrium.

As at 11.40am, shares in Seatrium are trading 0.1 cent higher or 0.98% up at 10.3 cents.

See Also: