Deltamarin Designs the Libra FPSO

Maritime Activity Reports, Inc.

October 28, 2014

Deltamarin Ltd. has entered into a contract with Jurong Shipyard Pte Ltd for the basic engineering of the Libra FPSO (floating production, storage and offloading unit). Deltamarin’s scope of work covers the marine part of the Navion Norvegia shuttle tanker conversion into the Libra FPSO.

The conversion shall be performed at the Singaporean Jurong Shipyard, whose customer is OOGTK Libra GmbH & Co KG, a 50/50 joint venture between Odebrecht Oil & Gas and Teekay Offshore. The joint venture company works as the lead commercial bidder for the Brazilian energy company Petrobras on the Libra project. The vessel is expected to be owned and operated by OOGTK and chartered to Petrobras and will serve the Libra presalt field in the ultra-deepwater section of Brazil’s Santos Basin as an early well-testing unit.

The contract guarantees the continuation of Deltamarin’s involvement in the Libra project as the company has earlier participated in the outline phase design of the unit, the company said.

The FPSO completion is scheduled for the third quarter of 2016 and it is planned to start its operations in late 2016. The production capacity will be 50,000 barrels of oil per day and 4 million cubic meters of natural gas per day.

The contract value of Deltamarin’s engineering work is approximately €3.2 million and the work is to be completed during the second quarter of 2015.

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