Renaissance Subsidiary Awarded Oil & Gas Contract

Renaissance announced that its Abu Dhabi based oil & gas subsidiary Adyard LLC was recently awarded a $35m contract by Single Buoy Moorings Inc. The contract is for the fabrication of a Mobile Offshore Production Unit for to be located on the YME Field in the Norwegian sector of the North Sea. The contract entails the fabrication and load out of the Hull, Topsides and related works. The process equipment will be fabricated in modules and installed on the hull at the Adyard jetty. The work will be executed at Adyard's 140,000 sqm water front facilities located in the Mussafah industrial area of Abu Dhabi over an 18-month period. Single Buoy Mooring Inc is a market leader in the conversion and operation of FPSO's worldwide and this award marks the fourth contract Single Buoy Moorings has awarded to Adyard in the past 12 months following the award of two CALM Buoys and PLEMS and five modules for the Frade FPSO for Chevron. [Source: http://www.ameinfo.com]