Marine Log

December 26, 2006

Jurong books two FPSO conversion orders

Singapore's Tanker Pacific Offshore Terminals Pte Ltd (Tanker Pacific) has placed two FPSO conversion with Sembcorp Marine's Jurong Shipyard.

The orders are worth a total US$58 million.

The first contract involves conversion of the 92,802 dwt tanker, M.T. Andaman Sea, which will be renamed FPSO Raroa on completion in the fourth quarter of 2007. Modification works will commence immediately and involve the installation of an internal turret, installation of three boilers on deck to generate 20 MW of power, renewal of the entire piping and electrical systems and installation of new process facilities, which include crude separation, water injection and chemical injection.

On completion, FPSO Raroa will be leased to OMV New Zealand for deployment in the Maari Field. Designed to operate for 15 years without drydocking, FPSO Raroa will be capable of processing 40,000 barrels of oil per day and with a storage capacity of up to 646,548 barrels of oil.

The second contract involves conversion of the 148,255 dwt oil tanker, the M.T. Freeway, into an FPSO for deployment in the Montara Field, offshore Australia. On completion in the second quarter of 2008, M.T. Freeway will be renamed FPSO Montara Venture and will be chartered to Coogee Resources.

Scheduled to enter Jurong Shipyard in the second quarter of 2007, FPSO Montara Venture will undergo extensive life extension and conversion works, including an internal turret and process facilities for crude separation, gas compression, gas lift and gas re-injection.

Designed to operate for 20 years without drydocking, FPSO Montara Venture will have a production capacity of 40,000 barrels per day and a storage capacity of 900,000 barrels of oil.