Dyna-Mac to Build FPSO Topsides for Armada Cabaca
Dyna-Mac has secured a Letter of Award (LoA) from Armada Cabaca Ltd. worth approximately $48 million (USD) for the construction of six FPSO topsides modules.
Armada Cabaca Ltd, an affiliate of Bumi Armada Berhad (Bumi Armada), a Malaysia-based international oilfield services provider to the oil and gas industry, contracted Dyna-Mac for a scope of work including detailed engineering and the fabrication of six units of topsides modules for an FPSO vessel that will be deployed at Eni’s Block 15/06 East Hub field, located 350 km northeast of Luanda in deep water offshore Angola. The topsides FPSO modules are scheduled to be delivered to the owner within the first quarter of 2016.
The FPSO will be capable of crude oil production rate of 80,000 barrels of oil per day (bopd) with a storage capacity of 1,800,000 barrels and 120,000 barrels per day (bpd) of water injection and 120 million standard cubic feet per day (mmscfd) of gas handling capacities. The fourth generation FPSO, currently undergoing conversion from a very large crude carrier will have a topside weight of 15,000 metric tons and will be moored at a water depth of 450 meters with first oil targeted in the fourth quarter of 2016.
Desmond Lim, CEO of Dyna-Mac said, “Since 2011 we have successfully delivered 14 units of the topside modules to their fleet of FPSOs with four more modules in various stages of construction.”
Barring unforeseen circumstances, Dyna-Mac expects the award to contribute positively to the earnings, net tangible assets and earnings per share for the financial year ending December 2015.
