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FSU Redelivered

Maritime Activity Reports, Inc.

November 19, 2004

The Floating Storage Unit (FSU) Yoho FSO (ex N’kossa 1) was successfully re-delivered in September 2004 by Malaysia’s Malaysia Shipyard & Engineering (MSE) to SBM-IMODCO for Exxon Mobil Development Company (EMDC), who acted as project manager on behalf of owner, Mobil Producing Nigeria Unlimited (MPN), after undergoing extensive upgrading, life extension and refurbishment work.

The FSO will be moored in the Yoho Oil Field, offshore Nigeria. It is capable of producing up to 165,000 barrels/day and accommodate tankers up to 310,000 dwt. It was refurbished to allow effective utilisation of the unit for a further 15 years uninterrupted service on site.

MSE’s major scope of work included upgrading of the mooring system and existing turret to accommodate new scrubber and pig receiver, rigid arm extension, life extension, marine repairs, fabrication and installation of new helideck with foundation and starboard deck crane with foundation, bow modification works, modification of fuel gas system, cargo line system and cargo and ballast control system, upgrading and modification of accommodation, fabrication and installation of new platforms at the new gantry structure, and installation of new equipment and control systems.

On October 19th, the 65,797 dwt tanker Bertina arrived in the shipyard, for a conversion to a FSU facility to be re-named FSO South Angsi A. She will be deployed in the South Angsi Field, offshore Malaysia and Vietnam. Owned by Malaysia International Shipping Corporation (MISC), a major shareholder in the shipyard, and leased by Talisman, FSO South Angsi A is expected to be re-delivered early second half of 2005.

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