Jurong Shipyard books US$99 million FPSO conversion project

OSX_fpsomicroSingapore's Jurong Shipyard, a wholly-owned subsidiary of Sembcorp Marine, has booked an approximately S$130 million (about US$ 99 million) project to convert the Very Large Crude Carrier MV TAR II (ex STAR II), to a Floating Production Storage and Offloading (FPSO) vessel for MODEC.

The conversion project involves the installation of an external turret mooring system and process facilities, which include gas turbine generators, oil separation, gas injection/gas lift and water injection system. Planned delivery to MODEC is second quarter 2013.

The FPSO is designed to operate for 20 years without drydocking and it will have a production capacity of 100,000 barrels of oil per day and a storage capacity of 1,600,000 barrels of oil. .

The FPSO will be delivered to OSX Leasing B.V. for deployment toffshore Brazil, located in water depths of approximately 110 meters.

MODEC is supplying the FPSO to OSX Leasing under an EPCI contract signed in June under which it responsible for the engineering, procurement, construction, mobilization, installation, and commissioning of the FPSO, including topsides processing equipment, hull and marine systems, and the external turret mooring (designed and constructed by its subsidiary, SOFEC). The complete unit will be delivered to OSX in Brazilian waters in the third quarter of 2013, with a First Oil target of late September 2013.

This is MODEC's first FPSO for OSX Leasing B.V. and is the eighth FSO/FPSO MODEC will provide in Brazil.

October 4, 2011

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