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Fpso Conversion News

09 Jan 2023

Middle East Ship Repair Yards Remain Center Stage

Asyad Dry Dock in Duqm, Oman, was previously Oman Drydock Company. Its new name reflects its ownership by Oman shipping and logistics group, Asyad. Image courtesy Asyad Dry Dock

In the 45 years since the Arab Shipbuilding & Repair Yard (ASRY) opened on reclaimed land in Bahrain, the Middle East has become one of the world’s ship repair hotspots. A broad range of shipyards now service both regional and global markets.Regional yards have a ready market, with hundreds of offshore rigs working across the region together with the service ships that support them. Then there are thousands of tankers and gas carriers that arrive each year to load energy cargoes for far-flung destinations.

02 Jul 2021

Yinson, PTSC Add Another Year to PTSC Lam Son FPSO Contract

Credit: Yinson

Malaysian FPSO provider Yinson has secured a contract extension for the PTSC Lam Son FPSO in Vietnam with Vietnam's PTSC AP.The 243 meters long Lam Son FPSO, able to produce 15,000-20,000 barrels of oil per day (bopd), with a storage capacity of up to 650,000 barrels of oil, has been operating in Vietnam since 2014. Following the FPSO conversion by Singapore's Keppel in 2014, the vessel was deployed in the Thang Long and Dong Do oil fields in Cuu Long Basin.Yinson said Thursday that the contract extension had been signed for a further period of 12 months from July 1, 2021, to June 30, 2022.

05 Apr 2021

Sangomar FPSO Construction Starts in China

Image: SOFEC, A MODEC Group company

The conversion of a VLCC into an FPSO bound for Woodside's Sangomar project in Senegal has recently kicked off in China, the Australian oil firm said in a recent report.The 323 meters-long very large crude carrier (VLCC) Astipal in February arrived in China, where it will, in Woodside's words, undergo "a metamorphosis" into the floating production storage and offloading (FPSO) facility for the Sangomar field. Japanese firm MODEC is responsible for the delivery of the FPSO for the Sangomar field, Senegal's first offshore oil development. The FPSO conversion will take around two years.

26 Nov 2020

Keppel Offshore & Marine Wins $74,7M FPSO Conversion Work

Singapore's Keppel Offshore & Marine has won a contract from an unnamed repeat customer worth about S$100 million (USD 74,7 million) for the fabrication and integration work on a Floating Production Storage and Offloading vessel (FPSO).Scheduled for delivery in 4Q 2022, Keppel Shipyard’s scope of work includes the fabrication, installation and integration of topside modules, riser balconies and spread mooring support structures, as well as supporting the customer on pre-commissioning and commissioning work.

07 Oct 2020

First Topside Modules Ship for Miamte MV34 FPSO

(Photo: McDermott International)

The first batch of topside modules has been shipped for a floating production storage and offloading (FPSO) unit for Japan's MODEC, U.S.-based engineering and construction firm McDermott International said on Wednesday.The FPSO, named Miamte MV34, will be used on the Amoca and Mizton fields located in the Eni-operated Area 1 block, in the Campeche Bay approximately 10 kilometers off the coast of Mexico, in approximately 32 meters water depth. First oil is planned in 2021.McDermott's…

06 Jul 2020

ABB Solutions for Yinson's Marlim 2 FPSO

Image Credit: ABB

Swiss-based technology giant ABB will provide electrical, control, and telecommunication solutions for Malaysia-based Yinson's new FPSO - Anna Nery. Once delivered, the FPSO will be deployed at Petrobras' Marlim 2 oil field offshore Brazil."Leveraging its ABB Ability System 800xA control system with Select Input/Output (IO), ABB will take responsibility for integration engineering in the project, integrating all the production modules onboard the vessel into a combined Integrated Safety and Control System (ICSS)…

02 Jul 2020

MAN Compressors for Yinson's Brazil-bound FPSO

MAN compression system / Credit: Man

MAN Energy Solutions will deliver six compressor trains for Yinson's FPSO being built for deployment in Brazil.For the FPSO named Anna Nery, MAN Energy Solutions will deliver four RB-type centrifugal-compressor trains for gas production and export, as well as two screw-compressor trains, which will be put into operation as vapor-recovery units.The FPSO will be located at Petrobras' Marlim and Voador field of the Campos basin, about 150 kilometers off the coast of Rio de Janeiro…

26 Feb 2020

Keppel Breaks FPSO Conversion Record

FPSO Abigail-Joseph - According to Keppel this was the world’s fastest brownfield FPSO modification and upgrading project - Credit:Keppel

Singapore's offshore facilities builder Keppel has said it has delivered "the world’s fastest brownfield Floating Production Storage and Offloading vessel (FPSO) modification and upgrading project."Named FPSO Abigail-Joseph, the vessel was delivered to Malaysia's Yinson Holdings. According to Keppel, it took it seven months to complete the project.Chris Ong, CEO of Keppel O&M said, "This is our 134th floating production vessel, and we are pleased to be able to fast-track the project and upgrade it in under seven months.

07 Aug 2019

Euronav Sells VLCC for FPSO Conversion

Belgium-based crude oil tanker company Euronav NV has sold its oldest very large crude carrier (VLCC) for conversion into a floating production storage and offloading (FPSO) vessel.The ship owner announced that its subsidiary Euronav Luxembourg has sold the VLCC vessel VK Eddie (2005 – 305,261 dwt) to a global supplier and operator of offshore floating platforms.A capital gain on the sale of approximately USD 14.4 million will be recorded during the current quarter, it said.The vessel has been delivered to her new owners and will be converted into an FPSO and therefore leave the worldwide trading fleet."Euronav’s reputation for providing…

16 Jan 2019

Euronav Sells Felicity for FPSO Conversion

Belgium's crude oil tanker company Euronav NV announced that it has sold the Suezmax vessel Felicity (2009 – 157,667 dwt) to a global supplier and operator of offshore floating platforms.The vessel has been delivered to her new owners and will be converted into an FPSO and therefore leave the worldwide trading fleet.The buyer's name and financial terms are not disclosed. However, the NYSE-listed company revealed that a capital loss on the sale of approximately USD 3.0 million will be recorded in Q4 2018.The cash generated on this transaction after repayment of debt will be USD 21.1 million, the tanker shipping company said.Paddy Rodgers, CEO of Euronav said: “Once again Euronav has demonstrated a capability to generate value for our stakeholders as part of our approach on fleet renewal.

30 Nov 2017

First Oil and Contract Start-up for Libra FPSO

(Photo: Teekay)

Teekay Offshore Partners L.P. announced that its jointly owned floating production storage and offloading (FPSO) unit, the FPSO Pioneiro de Libra (Libra), has achieved first oil and commenced its 12-year charter contract with a group of international oil companies, including Petrobras, Total, Shell, CNPC and CNOOC Limited, on the Libra oil field where it will perform early well tests. The Libra FPSO unit is the first unit to produce oil on the giant Libra block, which covers more than 1,500 square kilometers in the Santos Basin.

04 Oct 2017

Keppel Wins SBM FPSO Conversion Deal

As energy markets start to rebound, Keppel Shipyard Ltd. secured a Floating Production Storage and Offloading vessel (FPSO) conversion contract from  SBM Offshore N.V. (SBM Offshore). The contract calls for a VLCC to be converted into an FPSO, to be deployed to the Liza field, located approximately 193km offshore Guyana in the Stabroek block. The shipyard's work scope includes refurbishment and life extension works, such as the upgrading of living quarters, fabrication and installation of spread mooring systems, as well as the installation and integration of topside modules. The converted FPSO will have a storage capacity of 1.6 million barrels of crude oil and is capable of producing up to 120,000 barrels of oil per day.

10 Feb 2017

Higher Profits for MISC

Liquefied natural gas (LNG) shipping company has released its financial results for the year ended 31st December 2016 which show Group revenue for the quarter and the year were low than the corresponding periods for 2015. Group profit before tax for the quarter ended 31st December 2016 was lower than the corresponding quarter ended 31st December 2015 but Group profit before tax for the year ended 31st December 2016 was higher than the year ended 31st December 2015. Group revenue for the quarter ended 31st December 2016 of RM2,517.5 million was 24% lower than the corresponding quarter’s revenue of RM3,312.1 million. The decrease in Group revenue was mainly due to lower revenue in two business segments, namely, Heavy Engineering and LNG.

22 Jun 2016

FPSOs Sit Unprecedentedly Idle

FPSO Cidade de Marica SBM (Photo: Claudio Paschoa)

The 20 year four-fold growth pattern in the world’s FPSO fleet stalls out in 2016 with a record number of FPSOs idle and available for redeployment – or perhaps to be forced into other uses, lay up or scrap. FPSO redeployments typically are far more complex, costly and risky than for (say) drillships and yet the need for redeploying idle FPSOs is now in the forefront of the industry like never before as FPSO owners also have to face the worst ever down market for their equipment and services.

17 Feb 2016

Is Cosco's Orderbook Healthy?

While Cosco’s orderbook of US$8 billion seems hefty, the shipbuilding contracts are of low value, says a report in SBR. The orderbook may do the company more harm than good. As at 31 December 2015, Cosco’s order book stood at USD 8 billion with progressive deliveries up to early 2018. New orders received in 2015 include 7 container vessels, 2 cargo transfer vessels, 2 oil tankers, 1 shuttle tanker, 1 module carrier, 1 tanker assist/emergency response/rescue/field support vessel, 1 research vessel, 1 product oil tanker and 1 FPSO conversion. The shipbuilding contracts in Cosco’s orderbook are of low value, points out a research report from DBS.

30 Dec 2015

Keppel Secures $125 mln Repeat Contracts

Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win strong support from repeat customers by securing four contracts worth a total of about S$125 million. In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) secured two conversion contracts - the first is for a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) vessel awarded by Armada Floating Gas Storage Limited, a wholly-owned subsidiary of Bumi Armada Berhad (Bumi Armada); the second is for a Floating Production Storage and Offloading (FPSO) vessel awarded by Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad. Work on the LNG FSU conversion for Bumi Armada is scheduled to be completed in 3Q 2016.

29 Dec 2015

Keppel Wins $88.5M in Floating Production Contracts

Keppel Offshore & Marine Ltd (Keppel O&M)'s local and overseas subsidiaries continue to win support from repeat customers by securing four contracts worth a total of about $88.5 million. In Singapore, Keppel O&M's wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) secured two conversion contracts - the first is for a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) vessel awarded by Armada Floating Gas Storage Limited, a wholly-owned subsidiary of Bumi Armada Berhad (Bumi Armada); the second is for a Floating Production Storage and Offloading (FPSO) vessel awarded by Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad. Work on the LNG FSU conversion for Bumi Armada is scheduled to be completed in 3Q 2016.

01 Dec 2015

Cathelco Supply Equipment for Keppel Projects in Singapore

Press release -Cathelco have won orders to supply equipment for two projects which are being undertaken by Keppel yards in Singapore. The first is to provide marine growth protection systems (MGPS) for a KFELS semi-submersible drilling tender (Project B374). The Cathelco MGPS system will eliminate blockages in sea water pipework caused by the growth of barnacles and mussels. A total of four seachests will be protected, each with flow rates of 1,160 m3/hr. This involves fitting two copper anodes and one aluminium anode in each of the seachests which are wired to a control panel. In operation, the copper anodes produce ions which create an environment where barnacles and mussel larvae do not settle or breed, but are carried through the system to discharge.

11 Aug 2015

Keppel Shipyard Wins FPSO Conversion Contract

Even as world energy prices continue to maintain low pricing levels, offshore contracts are there to be won. Keppel Offshore & Marine Ltd has secured a Floating Production Storage and Offloading (FPSO) conversion contract as well as three repair, upgrade and modification contracts worth a total of about S$125 million. The FPSO conversion project Keppel Shipyard will be undertaking is for Armada Madura EPC Limited, a joint venture between long-standing customer Bumi Armada Berhad (Bumi Armada) and Shapoorji Pallonji Group (Shapoorji Pallonji). "This is our third conversion/upgrading project for the joint venture," said Michael Chia, Managing Director (Marine & Technology), Keppel O&M.

01 Jul 2015

Technip Wins Jurong's FPSO Conversion Contract

Technip has been awarded a topsides detailed engineering and procurement services contract by Jurong Shipyard Pte Ltd. The project is part of the conversion of a shuttle tanker into a floating, production, storage and offloading (FPSO) vessel, which is built at the Jurong Shipyard, located in Singapore. Technip will build on its experience in full range of offshore acilities to design the FPSO’s topsides. The FPSO will be based in the Libra field, offshore Brazil, at a water depth of approximately 2,500 meters. Once completed, it will have a capacity of 50,000 barrels of oil per day and 4 million cubic meters of natural gas per day. Technip’s operating center in Kuala Lumpur, Malaysia, will execute the contract which is scheduled for completion during the second semester of 2016.

08 Oct 2014

Keppel Bags Repeat Orders

Keppel Offshore & Marine Ltd wholly owned subsidiaries Keppel Shipyard Ltd (Keppel Shipyard) and Keppel Nantong Shipyard Co. Ltd have secured contracts from repeat customers worth a total of S$153 million. Keppel Shipyard's contract is for the conversion of a Floating Production Storage and Offloading (FPSO) vessel for Armada Cabaca Limited, a wholly owned subsidiary of Bumi Armada Berhad (Bumi Armada) while Keppel Nantong's contract is to construct a submersible barge for Smit Shipping Singapore Pte Ltd (Smit Shipping), a wholly-owned subsidiary of Royal Boskalis Westminster Group. Mr Michael Chia, Managing Director (Marine & Technology)…

21 Jul 2014

Sembawang Shipyard to Convert 2 FPSOs for Kaombo Project, Angola

Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA, France for the conversion of Two FPSOs for the Kaombo Project in Offshore Angola. Sembawang Shipyard was awarded this milestone contract on the strength of its capabilities and established track record in the field of FPSO conversion, modification and upgrading work. Under the contract, the Shipyard is responsible for the conversion of 2 Very Large Crude Carriers (VLCCs) sister ships into 2 turret-moored FPSOs for the Kaombo project located in offshore Angola, approximately 150 km from the coast.

24 Jun 2014

Offshore Floating Production Market Update

Jim McCaul, IMA

Currently, 320 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 76% of systems on order. Production semis, barges, spars and TLPs comprise the balance. Total oil/gas inventory is down two units since last month – two off-field FPSOs have been scrapped. Another 27 floating LNG processing systems are in service or on order. Liquefaction floaters account for 15%, regasification floaters 85%. No liquefaction floaters are yet in service – all four are on order.

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