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Jurong Shipyard Completes Construction of FPSO

Maritime Activity Reports, Inc.

April 15, 2003

Jurong Shipyard Pte Ltd, a subsidiary of SembCorp Marine has completed construction of the 356,400 dwt Floating Production Storage Offloading (FPSO) Fluminense for MODEC International LLC. Measuring 363m x 61m x 29m, the 356,400 dwt FPSO Fluminense has a production capacity of 81,000 barrels of oil per day and a storage capacity of 1.2 million barrels of oil. The conversion of this Ultra Large Crude Carrier (ULCC), Ex-Sahara to the present FPSO Fluminense involved significant steel renewal and strengthening, extensive coating and cathodic protection, the installation of process skids, helideck, metering system, flare tower, deck cranes and upgrading of the accommodation. Over 300,000 m² of the ULCC’s cargo tanks were grit blasted and coated. The completed FPSO is also fitted with the world’s largest external turret mooring system weighing 1300 tonnes. The FPSO will serve under a lease to Shell Brazil Ltda in the Bijupira and Salema Oilfields at the Campos Basin offshore Brazil, some 145 km from Macae. The FPSO is slated to receive the first oil early third quarter 2003 and will operate at a water depth of between 780 to 880 metres.

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