Brazilian yard wins FPSO conversion

The Brazilian subsidiary of Keppel FELS Limited, FELS Setal SA, has signed a Letter of Intent with Halliburton Productos Ltd for the conversion of the tanker Stena Concordia into a floating production storage and offloading (FPSO) facility. Mr Tong Chong Heong, managing director of Keppel FELS said winning the contract was evidence that the company`s “near-market, near-customer” strategy was working well. FELS Setal was established in March of last year as a 60/40 joint venture between Keppel FELS and PEM Setal. The company operates from a 360,000m2 yard in the city of Angra dos Reis, about two hours south of Rio de Janeiro.